The Brussels Enterprise Court has rejected a claim from 1,000 Fortis shareholders challenging the sale of Fortis Bank to BNP Paribas.
The plaintiffs sought €10.8 billion in compensation and the annulment of the sale.
Led by lawyer Mischaël Modrikamen, the shareholders aimed to obtain reparations for the sale first to the SFPIM and then to BNP Paribas, citing abuse of company assets and weakness exploitation.
The court deemed the claims inadmissible, stating that the shareholders lacked the legal standing to act and that some requests were time-barred.
It highlighted that Ageas, Fortis’s successor, was the only entity entitled to claim compensation and had not done so.
Mr Modrikamen expressed disappointment that the case’s merits were not reviewed and is considering advising his clients to appeal the decision.
