2023-10-14 05:55:00
In reality, the holders and the bank had been in open conflict since the bank had suspended its trading and redemption system for the certificates in question. After three years of suspension, Triodos has implemented a new system which seems not to suit a series of certificate holders who denounce a closed system and too complicated for most investors to understand. Not to mention the reduction recorded since the implementation of the new system. We are talking regarding a 70% loss in value. In Belgium, there are 7,500 holders.
Lawyer Arnauts believes that by suspending the system and refusing to put it back as it was before, the bank committed a fault which constitutes an abuse of rights. It is on this basis that he intends to ask Triodos to buy back his clients’ certificates at the price at which they bought them (89 euros instead of a value of 30 euros today).
The bank, which explains not having been notified of such legal action, indicates that if compensation were to be demanded from the bank, it is the holders who would pay it, because they are the ones who hold the capital of the bank .
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#Belgian #bank #sued #abuse #rights
