Romanian clients suing Volksbank Romania demand the court to find Volksbank International AG accountable for the local branch - financiare.ro
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News » May, 2011 » 12 May 2011

Romanian clients suing Volksbank Romania demand the court to find Volksbank International AG accountable for the local branch
12.05.2011, 15:00 | Finance-Banks | 720 views



Romanian clients of Volksbank demanded the Court to find Volksbank International AG that owns 99.3384% of the local branch in Romania responsible for the acts of the branch in Romania.

They ground their request on two similar cases of the European Court in which the main bank was accountable for any illegal behavior of the branch even though it did not participate directly to its actions.

There is a powerful judicial and economic link between the two companies that reveal that Volksbank Romania is subordinated to Volksbank International AG.

Read more on Hotnews.ro




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