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Decision of the FSMA Sanctions Commission in the Nyrstar case challenged before the Market Court
The Market Court recently received a petition for the annulment and reform of the decision of the Sanctions Commission of financial watchdog FSMA in the Nyrstar case. The commission had found Nyrstar NV guilty of market manipulation. The company was fined €80,000, but its board members were acquitted. The commission ruled that there had been insufficient investigation into their individual roles in the manipulation. That ruling is now being challenged. The ball is therefore i
Nov 52 min read


Delayed criminal investigation undermines investor confidence
Minority shareholders who suffer huge losses are left waiting for years, while courts, despite their best efforts, lack the resources to...
Sep 232 min read


The stock market regulator speaks of market manipulation: “This report will strengthen the legal case against Nyrstar and its directors.”
The Nyrstar saga continues to make headlines. La Libre follows up on articles published by L'Echo and De Tijd and highlights a striking...
Sep 152 min read


FSMA auditor: Nyrstar and directors concealed €719 million in debt
Our years of appealing for transparency in the sour Nyrstar file finally seems to have been heard. In this article by Bert Broens in De...
Sep 92 min read


Inertia as a tactic: Trafigura's ‘Belgian Torpedo’
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,...
Jul 182 min read


Italy’s biggest refinery in crisis three years after sale by Russia’s Lukoil
Another case of the #CuckooStrategy in action. Trafigura ’s playbook is becoming painfully familiar: leverage special situations emerging...
Apr 122 min read


The Nyrstar Case: A Textbook Principal-Agent Problem
The classic 'principal-agent problem' played a central role in the Nyrstar case. Kris Vansanten describes how board members and legal...
Apr 52 min read
How do you commit a hold-up on a Belgian listed company?
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...
Mar 141 min read


Acquisition of Belgian flagship Nyrstar: hidden reports that embarrass Trafigura
'The biggest robbery in Belgian industrial history' is how Le Vif magazine describes Trafigura's role in the takeover of Nyrstar's...
Mar 72 min read


“The biggest hold-up in Belgian industrial history”
“The greatest hold-up in Belgian industrial history” — that is how the magazine Le Vif describes Trafigura’s role in the acquisition of...
Mar 71 min read


A Battle for Accountability
A true David versus Goliath story. The small shareholder against one of the most powerful companies in the world, Trafigura, which turns...
Feb 51 min read


Reflections around the hearing to strengthen Belgium's capital market
"The protection of minority shareholders and the strengthening of the Belgian capital market require well-founded analysis and policy....
Jan 281 min read


The stock market regulator FSMA recently reprimanded the listed company Nyrstar in a letter.
Pleadings were held yesterday before the Turnhout District Court for the appointment of a provisional administrator at Nyrstar NV. The...
Jan 102 min read


Reality Check: Is Nyrstar’s $300 Million Loss a Real Crisis or Just Creative Accounting?
Is Nyrstar really suffering a $300 million loss due to historically low zinc processing wages, as a recent article in De Tijd seems to...
Jan 102 min read


Court adjourns decision on appointment of administrator for Nyrstar
The court in Turnhout has postponed the appointment of a provisional administrator for Nyrstar pending the results of the investigations...
Jan 91 min read


Parliament to consider better protection for small shareholders
A major victory in our fight for better protection for minority shareholders! Today marks an important milestone in our ongoing fight for...
Nov 26, 20241 min read


A major step forward for significantly improving the protection of minority shareholders.
Yesterday, the Finance Committee of the House of Representatives held a hearing on strengthening the position of minority shareholders in...
Nov 23, 20241 min read


Antwerp public prosecutor's office launches new investigation into zinc group Nyrstar
The Public Prosecution Service is now retracing its steps and has opened a new investigation. Antwerp Courthous e - © Fred Romero The...
Oct 7, 20242 min read


Keep (or not) quiet, little one
When the grown-ups talk, the little ones must be silent. This was a familiar scene at many family tables for a long time. In the business...
Jul 22, 20245 min read


Justice Department looks the other way in Nyrstar case
Rik Van Cauwelaert's column is spot on. 'The Belgian judiciary has a regrettable shortcoming: it is no longer able to resolve financial...
Jan 5, 20242 min read
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