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The Amsterdam court has declared the Amsterdam Trade Bank bankrupt on Friday. This will directly affect 23,000 savers. The Dutch State is assisting through a deposit guarantee scheme and guarantees savings of up to 100,000 euros, regulator DNB reports on its website.

In total, 700 million euros will have to be called on from the deposit guarantee scheme. This currently contains a total of 3 billion euros.

ATB, which is indirectly in Russian hands, cites 'operational difficulties' as the cause of the bankruptcy because the United States and the United Kingdom have placed the bank on the sanction list. Other banks find it "difficult to continue to support us," ATB writes in a press statement. Anyone who does business with a company that has been placed on the sanctions list is breaking the rules.

Earlier in the day it appeared that customers of the Amsterdam Trade Bank could no longer access their account. Savings were temporarily frozen. The bank is said to have taken measures to prevent a so-called bank run on savings. On Thursday, the FD already revealed that the bank is in the shop window.

Amsterdam Trade Bank is a relatively small bank located on the Amsterdam Zuidas. In recent years, the bank has provided loans to shipping companies, among other things. Since 2021, the company has focused on small loans for SMEs. According to the most recent annual report from 2020, savers also had 370 million euros in outstanding savings. The balance sheet total was relatively small at 1.2 billion euros.

Four Russian Oligarchs
Via a stepped construction, ATB is largely in the hands of four Russian owners who have been subject to sanctions. These are the oligarchs Mikhail Fridman, Petr Aven, Alexei Kuzmichov and German Khan.

Amsterdam Trade Bank is a subsidiary of Alfa Bank, Russia's largest private bank. Fridman and his three business partners are founders of Alfa Bank, in which they still own a combined 82 percent stake.

The ATB itself is not on the EU sanctions list. Neither does parent company Alfa Bank. However, Alfa Bank is on the sanctions list of the British and Americans. For individuals, their companies will be affected if they have an interest of 50 percent or more in them. ATB thus seemed to escape the EU sanctions, but recently it became clear that the interests can be added together. This would mean that the Netherlands could still decide, for example, to freeze dividend payments to the owners.

Previously raid FIOD
The ATB has been in the interest of the tax investigation service FIOD and DNB for years. In 2017, the FIOD raided ATB on suspicion of violation of the Money Laundering and Terrorist Financing (Prevention) Act. ATB accounts would be used to launder, among other things, Russian money flows. In this way, the bank would be involved in the scandal surrounding telecom company Vimpelcom. He was guilty of bribery and forgery for years. The Fiod investigation into ATB is still ongoing.

Three Dutch supervisory directors are active at the ATB, including former DNB director Lex Hoogduin. They previously told NRC that they saw no reason to resign in the sanctions against the four owners.

SOURCE

Amsterdam Trade Bank: Press Statement

On 22 April 2022, Amsterdam Trade Bank N.V. ("ATB" filed for bankruptcy and was declared bankrupt by the Amsterdam District Court. UK and US sanctions have caused operational difficulties, as the majority of ATB's counterparties, including corresponding banks and infrastructure providers, find it difficult to continue supporting ATB. The court has appointed A. van Hees and J.E.P.A. van Hooff as bankruptcy trustees.

The deposit guarantee scheme will come into effect as a result of the bankruptcy. Information on the deposit guarantee scheme for ATB can be found at www.dnb.nl. De Nederlandsche Bank (DNB) publishes news about deposit guarantees on its website and in national newspapers. Account holders will receive a letter from DNB shortly. This way, everyone receives information about the procedure for receiving the compensation. The trustees will inform the creditors in more detail via this website in the near future.

Amsterdam Trade Bank

Since when?

Wow

O ti zeh

.

We Say No to War !

On the long run, the entire world would feel the enormous impact of this war. This isn't Iraq or the gulf. As it stands now, every country is dealing with shortage or hike of petrol costs. Sri Lanka has no food now. China is taking their lands. China now controls their ports and is building an island on their shorelines because they cannot repay their loans.

Nigeria owes China years of Petrol proceeds. And, Buhari keeps on borrowing from China. All these deals mean that in the event of a failure to repay, China could end of possessing our ports or oil blocks for nothing less than 90 years. Which means even our kids will slave for Chinese masters

Sixfiguresmart:
Sad

are u a Muslim?

[img]https:///media/4-02-2022/8HYAQ1.gif[/img]

Dem go murder Putin las las.

Russia/Russians can't go down because of one mad man.

Omooh

It will get worse by May, when Russia debt default will be official,Putin is there still lying about effects of sanctions, he clearly wants to take Russia back to dark ages, Russians can't even have an opinion since he will kill any dissenter.

Cashout things!!

Mad man Putin is a terrorist

Russia will soon feel the heat of the sanctions. Its a matter of time.

Yea

Sometimes this blind allegiance to authority distort our ability to differentiate what is good from what is bad. It is wrong to kill your fellow man. But when the perceived authority asks one to do so, he is expected to comply. The effect of this can be disastrous. When an “bad” person gets to the seat of power and gives a bad directive, good people tuned down their moral conscience and obey. Adolph Hitler on his own can kill a handful of persons at a time but Adolph Hitler as the commander General of the arm forces can kill a million persons. In other words,. Adolph Hitler is not the problem but the good-hearted soldiers who would never hurt a fly but kill their fellow human without guilt on the order of authority. Religion is not the problem but the good-hearted persons who will not hesitate to butcher their fellow human on the command if the religious books and leaders whom they perceive as agents of supreme Authority.


The authority understands that to continue to have control over their subjects, they have to instill the doctrine of blind obedience. Law enforcement agencies do not encourage their staff to question their superior decision. To disobey a superior immoral order could amount to severe consequence. My heart goes to the dead soldiers who risk their lives believing they are fighting for a just cause whereas they were used as Pawns fighting for the politician who would not do the same for them. Religion encourages members not to ask question. Blind obedience which is nicknamed ” Faith” is emphasized as a sign of a true believer. Whoever question the holy book is a doubter, heretic and should be stoned to death. Health authorities and Scientist tells us vaccine they approved are effective and we must believe them and take them against our will. Whoever posts information doubting the safety of the vaccine is accused of posting false information and the website banned. Meanwhile, scientist are accused of inventing the same virus in a laboratory. Yet we are to believe and obey them . Can one preside over a case where he is a suspect? Medical autonomy is thrown to the wind. Individuals no longer have the right to choose their medication. Soon, authority will choose our food for us. Authority comes in various shades


The aim of this article is not eradicate authority completely. Like Dr Milgram said, obedience to authority may be necessary in certain context . No Individual is inherently good or bad . Individuals can apply golden rule when making decisions. Any of us can fall victim to the pressure of the situation and would love to be treated fairly. Power changes hand. A jailer


https://tobechispeaks./2020/11/21/educated-to-sacrifice/

Small small

Yes nau
So that they will not pay tax to Nazi EU regime.


The West are being beaten to their own game.

Putin ehnn

I thought they said these sanctions were audio

Slowly but surely, the sanctions would bite hard.

Sanction works but it takes time,it’s just like rotten tomatoes,it rots little by little

Ok

HonNL:
Previous Threads:
https://www.nairaland.com/7036723/mikhail-fridman-laments-current-living#111164076

https://www.nairaland.com/7012404/mikhail-fridman-leaves-letterone-investment#110708664

https://www.nairaland.com/7045077/britain-impose-new-sanctions-65#111322861



SOURCE



Amsterdam Trade Bank

Poor European customers will feel the heat.
Some people will still blame Putin rather than the puppet Leadership operated by the Europeans.