Investment Account Liability: Discover Your Rights

Questioner

Dear Sir/Madam, If you have an investment account with a bank that has been nationalized by the government, who is liable for mistakes made before nationalization? Thank you for your cooperation,

Lawyer

If errors have been made by the bank, it is also liable for the errors.

Lawyer

The bank is liable for any errors (procedure, execution, etc.) regarding the investment account. The state is liable for issues (procedure, errors, etc.) regarding nationalization. The state will not interfere with errors regarding the investment account, while it does guarantee the customer up to a certain amount in the event of bankruptcy or substantial financial loss of the bank.

Questioner

I have asked the bank to provide me with which professional liability insurance I can submit the claim to. To date, this request has not been honored. What steps should I take in this regard?

Lawyer

It is possible to submit any liability through the court. They will then consider the error. Whether there are possibilities I would have to look into it, before I can give a definitive answer here. If you want further help and/or advice, please feel free to contact me.

Lawyer

Before you go to court and incur unnecessary costs, you might be wise to have the case assessed by a lawyer. He or she can then determine whether liability lies with the insurer or the state and can advise you on what is best for you to do. If you wish, you can contact me directly and free of charge to assess your case.