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The AFM imposes an order for incremental penalty payments on Dutch Portugal Investments B.V.

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On 20 November 2009, the Netherlands Authority for the Financial Markets (AFM) imposed an order for incremental penalty payments on: Dutch Portugal Investments B.V. (DPI) of Lichtenvoorde. In order to comply with order, DPI was obliged to provide its bond holders, to the extent it concerns consumers within the meaning of the Dutch Civil Code, with essential information on the following, and to publish this information on its website:

Insight into:

  • DPI's financial position;
  • the moneys loaned to companies affiliated with DPI;
  • the fact that three bond holders acquired a right of pledge by way of security for repayment of the loans provided by them, while the offer does not show that a right of pledge may be acquired or that such had been granted;
  • a balance overview of DPI's assets and liabilities as at 31 July 2009 and an overview of all costs incurred as of 31 July 2009.

The AFM considers this information of interest to the bond holders so they can make a decision concerning the of exercise their contractual rights as bond holders. Failing to provide this information means that DPI performed a trade practice that is unfair within the meaning of Section 6:193b and 6:193d of the Dutch Civil Code. Bond holders can use this information to form an opinion on the financial and legal position of DPI and consequently of the causes of the liquidity deficit and the ceasing of interest payments.

Interested parties can submit the AFM's decision to the competent court for review.

If you have any questions or comments you can contact the Financial Markets Information Line on: 0900-5400 540 (5 eurocents per minute).

The AFM promotes fairness and transparency within financial markets. We are the independent supervisory authority for the savings, lending, investment and insurance markets. The AFM promotes the conscientious provision of financial services to consumers and supervises the honest and efficient operation of the capital markets. Our aim is to improve consumers’ and the business sector’s confidence in the financial markets, both in the Netherlands and abroad. In performing this task the AFM contributes to the prosperity and economic reputation of the Netherlands.

The AFM is committed to promoting fair and transparent financial markets.

As an independent market conduct authority, we contribute to a sustainable financial system and prosperity in the Netherlands.

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