Court dismisses shareholder claims for old management fees but allows claims for breach of balance guarantee.
Netherlands (NL)
Legislator summary
AI generatedThe court dismissed DHK and JWvW's claim for unpaid old management fees, ruling that the defendants were aware of outstanding obligations not reflected in the financial statements. However, the court allowed claims for breach of the balance guarantee regarding the 2015-2017 annual reports, finding the defendants liable for inaccuracies. Consequently, RDG and its affiliates were ordered to pay substantial sums to the plaintiffs plus interest.
Legislator headnote
AI generatedArticles 6:119 BW; Article 4 sub c of the purchase agreement: The court held that while a claim for old management fees is inadmissible due to prior knowledge of undisclosed obligations, a claim for breach of a balance guarantee remains valid if the financial statements contained inaccuracies or omissions.