July 18, 2026
Nearly a thousand smaller shareholders opposed the sale of Fortis in 2008 Bank to BNP Paribas, a French financial institution, have been unsuccessful in court. They claimed damages of more than 10 billion euro.
The shareholders were represented by lawyer Mischaël Modrikamen. They asked for compensation for the sale of Fortis to the Federal Participation and Investment Company (FPIM) and then to BNP Paribas. Modrikamen accused the parties involved of misuse of company assets and breach of trust.
Nevertheless, the French-speaking Enterprise Court of Brussels declared the claims inadmissible. The court ruled that the shareholders did not have the authority to act. Furthermore, in another part of the case, prescription was involved. According to the court, only Ageas, as the legal successor of Fortis, could claim damages. However, Ageas did not do so.
Modrikamen expressed disappointment that the core of the case was not investigated. He is considering advising his clients to appeal.
Who are the plaintiffs in this lawsuit?
Nearly a thousand smaller shareholders of Fortis Bank who opposed the sale of the bank to BNP Paribas in 2008.
What was the shareholders' demand?
The shareholders, represented by lawyer Mischaël Modrikamen, claimed damages of more than 10 billion euros for the sale of Fortis to the Federal Participation and Investment Company (FPIM) and subsequently to BNP Paribas.
What was the court's response to these demands?
The French-speaking Enterprise Court of Brussels declared the claims inadmissible. The court ruled that the shareholders did not have the authority to act and that in another part of the case prescription had expired.
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