Dutch court orders Van der Moolen investigation

* Commercial court orders probe into firm’s final years

* Shareholder group says ‘satisfied’ with probe

AMSTERDAM, July 5 (BestGrowthStock) – A Dutch commercial court on
Monday ordered an investigation into the collapse of brokerage
Van der Moolen, which went bankrupt last September after 117
years as a key player on global stock exchanges.

The commercial court said the investigation would look at
the activities of the company and its management from the start
of 2005 up to and including the bankruptcy filing.

Lawyers for Van der Moolen and its former chief executive,
Richard den Drijver, could not be immediately reached for
comment.

Once one of the top market makers in New York, Van der
Moolen was known as “King of the Damrak” for its key role in the
Dutch exchange as well. But as electronic trading grew the firm
shrank, struggling to find a new business model.

It ultimately sought a place as a trader of options and
derivatives, but eventually ran out of money. [ID:nLA185299]

Dutch shareholders’ association VEB said in a statement it
was “satisfied” with the court’s ruling. The VEB and
nationalised insurer ASR Nederland asked the court last December
to launch the investigation. [ID:nGEE5BA03L]
(Reporting by Ben Berkowitz)

Dutch court orders Van der Moolen investigation