Articles

The government's plan to establish a dedicated financial prosecution unit is exactly what Belgium's justice system has needed for years. Those who are familiar with the Nyrstar case know precisely why. Belgian Minister of Justice Annelies Verlinden (CD&V) and Ismaël Nuino (Les Engagés), chair of the Parliamentary Justice Committee, announced the creation of a dedicated financial prosecution division within the federal public prosecutor's office. The announcement marks a turni

Europe is finally talking about strategic autonomy. But can we achieve real autonomy by subsidising foreign companies that own our strategic assets? It is deeply cynical that Trafigura CEO Richard Holtum published an article last week calling on EU policymakers to protect metal smelters in the name of Europe’s strategic autonomy. Cynical, because it was precisely Trafigura that took zinc smelter Nyrstar out of European control back in 2019, in circumstances still actively con

In a striking illustration of the widening gap between corporate sustainability claims and environmental reality, a Dutch water authority has taken legal action against pollution caused by Nyrstar’s zinc plant in Pelt, Belgium. The dispute centers on discharges of toxic substances into the Dommel River. The pollution is so severe it is preventing the Dutch province of North Brabant from meeting EU water quality and public health standards. The question is not only why Flander

The FSMA Sanctions Commission did find misleading practices at Nyrstar and convicted it of market manipulation related to its liquidity position prior to the restructuring. The other allegations, despite having been thoroughly analyzed for four years by the FSMA Auditor, were dismissed two years later, after six years of proceedings, including five days of closed-door hearings, without even consulting the minority shareholders' union that had been working on the case for more

“Together, we can make our societies open for business but closed for crime.” The words of Belgian Prime Minister Bart De Wever at the United Nations still resonate as I work my way through the 146-page decision of the FSMA Sanctions Committee on market manipulation at Nyrstar NV. The Committee’s mandate was clear: to determine the sanctions for four violations identified by the FSMA’s auditor after years of investigation. His exhaustive reports left little doubt that Nyrstar

Minority shareholders who suffer huge losses are left waiting for years, while courts, despite their best efforts, lack the resources to...

Minister Annelies Verlinden is requesting an additional €1 billion for structural investments in her department. Her message is sobering: “ I refuse to accept that the next social tragedies are waiting to happen in the offices of the public prosecutors. To prevent this, we must invest in every link in the chain. And anyone who thinks this money is not necessary should speak up. " Annelies Verlinden - © Belgian Presidency of the Council of the European Union / Julien Nizet A w

The imminent introduction of multiple voting rights is currently sparking controversy in the media over whether sufficient consideration...

Yes, a battery park in Balen provides job security and contributes to the energy transition, and we can only applaud that. And yes,...

The wheels of justice turn slowly – too slowly – and this undermines the credibility of the rule of law. In an opinion piece in De Tijd,...

Minority shareholders sound the alarm about poor governance, conflicts of interest, mismanagement, and excessive spending. Nyrstar NV, a...

Another unexpected twist in the Nyrstar case: Kris Peeters withdraws as candidate director. What could be going on? Kris Peeters - © Filip Naudts CC-BY-SA 4.0 Until recently, Mr. Peeters was a director at the European Investment Bank (EIB). Some research reveals that Article 6.1 of the EIB's Code of Conduct for the Board of Directors stipulates the following after the end of such a mandate: "Former Members of the Board of Directors have the duty to behave with integrity an

The integrity of corporate governance is under increasing scrutiny — and rightfully so. Belgium’s recent history has shown how vulnerable...

‘It seems that the justice system wants to send a strong message to politicians’, this week in Trends Tendances. Does the justice system...

In a ruling in the Nyrstar case, the chamber of indictments at the Brussels court of appeal lashes out at the federal government for its...

Here is the truth: the criminal investigation in Brussels into Nyrstar was closed solely due to a lack of resources, and the verdict...

How do you commit a hold-up on a publicly traded company in Belgium? By applying a cuckoo strategy, as this video explains in less than...

A true David versus Goliath story. The small shareholder against one of the most powerful companies in the world, Trafigura, which turns...

"The protection of minority shareholders and the strengthening of the Belgian capital market require well-founded analysis and policy....