Public body determined to make bank bosses pay

Billions being sought from directors in compensation cases

The PM is expected to call for a general election today (Photo: Håkan Dahlström)
September 2nd, 2014 6:57 pm| by admin
facebooktwittergoogle_pluspinterestmail

The public financial oversight body, Finansiel Stabilitet, is legally pursuing the directors of seven crashed banks. Information reports that it is willing to do so for the public interest, even if the return in compensation is expected to be outweighed by the cost of cases.

The cases brought by Finansiel Stabilitet are not criminal, but merely seek compensation where bankruptcies  have caused losses to the state.

Deterrent effect
Henrik Bjerre-Nielsen, the head of Finansiel Stabilitet, believes that, even if it is not possible to obtain the millions in compensation that is being sought in such cases, there is a deterrent effect that makes it worthwhile. “If you have caused the bank losses as a board member or director, you will be accountable for it,” he told Information.

“We think it’s difficult to differentiate the effect it will have on the people involved according to whether we think we can cover our expenses or not.”

Since Roskilde Bank in 2008 was acquired by the Danish National Bank after running into financial difficulties, Finansiel Stabilitet has made an assessment of each of the 12 bank crashes and has gone after the leadership in seven cases. Progress is slow and all of the cases are ongoing. 

The PM is expected to call for a general election today (Photo: Håkan Dahlström)
Speculation high that PM will call for election today
After month’s of speculation, some are predicting that PM Helle Thorning-...
(photo:istock)
For the few of you who like a brew …
The Danish Beer Enthusiasts aren’t satisfied by the selection of beer ava...
Functional, unique and timeless, everybody needs a share of Danish design
The crowning glory of Danish jewellery design
Jewellery is the icing on the top of the cake when it comes to the Danish f...
Family involvement is positive for patients, organisation says (photo: iStock)
Danes: Family members should play a role in helping sick relatives
When asked if family members should help with the care of sick relatives, a...
Could Helle call for an election tomorrow? (photo: Johannes Jansson)
Government unveils budget plan as call for election approaches
Led by the prime minister, Helle Thorning-Schmidt, the government today pre...
If the Hellerup model is followed this could be a thing of the past (photo: iStock)
Hellerup upper-secondary teachers replacing iPads with pen and pad
Two teachers at Øregård Gymnasium in Hellerup have introduced a ban on...