Gerechtshof Den Bosch; 2016-07-12; appellanten; 200017950001
Decision by national courts in the field of European Union law — ECLI:NL:GHSHE:2016:2829
Date: 2016-07-12
Subject matter: Judicial cooperation in civil matters
Origin: Netherlands

82016NL0712(51)_ENG_SUMJURE
JURE summary
JURE summary
Summary of the decision ECLI:NL:GHSHE:2016:2829 of 12 July 2016
The Appellants concluded an asset management agreement with an Icelandic bank in Luxembourg. Their asset manager finished working for the Icelandic bank, and took a position at another bank, based in Denmark, and subsequently made an offer to the Appellants. The Appellants then concluded an asset management agreement with this Danish bank. They deposited 500.000 EUR. This sum was largely lost. The Appellants required EUR 446 162 back. The Danish bank raised the question of jurisdiction. The rechtbank (district court) declared that it had no jurisdiction because it had not been proven that the Danish bank wanted to do business with customers residing in the Netherlands. The Hof (Court of Appeal) annulled the decision of the rechtbank. According to the Hof, the Dutch courts have the jurisdiction. The facts showed that the Danish bank carries out commercial activities in Netherlands. The Danish bank stated that at the time they had approximately 50 customers in the Netherlands. The Appellants could not deduce their asset manager did not act on behalf of the Danish bank. Bearing in mind the principle that the consumer, as a weaker party, deserves protection, it cannot be expected that the Appellants research the market share of the Danish bank on the Dutch market. (4.5.3.)