All attempts to save the DSB Bank, which was put under central bank supervision a week ago, have failed. On Monday morning the Amsterdam court made the bankruptcy final, after it had given the consumer bank three respites to find an alternative solution. Dirk Scheringa, the founder and owner of DSB, on Friday announced an American investor was seriously interested in buying his company. He has previously tried to persuade a consortium of Dutch banks to take over his ravaged bank after it succumbed to negative publicity surrounding its mortgages and insurance policies. NRC Handelsblad discovered Saturday that Lone Star Funds, an investment firm from Texas, had approached DSB. The private equity firm specialises in buying distressed companies and assets, such as toxic mortgage loans. But on Sunday the company pulled out of negotiations after studying DSB's books.
Dirk Scheringa, the founder and owner of DSB, on Friday announced an American investor was seriously interested in buying his company. He has previously tried to persuade a consortium of Dutch banks to take over his ravaged bank after it succumbed to negative publicity surrounding its mortgages and insurance policies.
NRC Handelsblad discovered Saturday that Lone Star Funds, an investment firm from Texas, had approached DSB. The private equity firm specialises in buying distressed companies and assets, such as toxic mortgage loans. But on Sunday the company pulled out of negotiations after studying DSB's books.
Attempted a sketch of a diary, but developments kept on coming, carried by tempestuous waves of media storm.
Scheringa, who seems to blame everyone except himself, has pointed fingers to minister of Finance Wouter Bos and the DNB, the central bank, blaming them for "destroying" his company. He also hints that Lone Star Funds pulled out after they phoned someone at the ministry. Probabaly a reference check.
Now, if a locust company such as Long Star Funds doesn't even want to salvage the DSB - what does that say of the status of the DSB?
