Friday, December 12, 2008


Dismantling of Fortis

Dismantling of Fortis has been suspended

Earlier this day, the CBFA suspended the trade of Fortis shares on the Brussels stock exchange in the awaiting of the verdict which has been announced this evening. In contrast to the verdict made by the court of law nearly a month ago, the court of appeal declared the sale/takeover in which parts of the Fortis Holding will be sold to BNP Paribas and the Dutch government, must be suspended.

The verdict is mainly due to Mischael Modrikamen, a lawyer, who represents 2,000 displeased shareholders. He, and his 2,000 shareholders, share the opinion that the decision made by the board of directors was illegal and must be prevented. In order to solve this problem, the judge has appointed 5 experts. It’s their job to examine the correctness of the sale/takeover and finally give an advice so the judge can make his final verdict.

Daan Van Parys
But one way or the other ....
There are two sides on the balance sheet,
the left side and the right side.
On the left side, there is nothing right,
on the right side there is nothing left.

It's like the video yesterday : it all happens in Belgium....

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