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Belgium starts legal action against Swissair
www.chinaview.cn 2006-02-23 03:23:09

    BRUSSELS, Feb. 22 (Xinhuanet) -- The Belgian state is to lodge a criminal complaint in Switzerland against Swissair, a former shareholder of bankrupt Belgian airline Sabena, local media reported on Wednesday.

    Trustee Christian Van Buggenhout claims the Swiss airline took 740 million euros (888 million U.S. dollars) away from its Belgiansubsidiary, leading to Sabena's bankruptcy in November 2001.

    The trustee also lodged a complaint against Swissair in Zurich in 2004, Belgian financial newspaper De Tijd reported on Wednesday.

    The Belgian state's complaint will be lodged at the end of March in the court of Zurich, a spokesman for Public Enterprises Minister Bruno Tuybens said.

    Tuybens has been authorized by the federal government to launchthe procedure. The complaint is targeted against Swissair and "every person who made errors".

    The spokesman said the aim is to prove that several Swissair board members made personal mistakes.

    Trustee Van Buggenhout said it is rare for a state to launch criminal proceedings against a company or individuals in another country.

    Shortly before Sabena's bankruptcy, Swissair also went belly upin 2001. Van Buggenhout said the demise of the Swiss flag carrier led to the bankruptcy of Sabena.

    With a controlling stake of 49.7 percent in Sabena, Swissair isaccused of milking the Belgian airline dry between 1995 and 2001.

    Van Buggenhout accused Swissair of appropriating 740 million euros (888 million U.S. dollars) away from Sabena.

    That figure is also mentioned in a complaint lodged with the Brussels appeals court where a civil procedure launched by the Belgian state is proceeding.

    Together with the trustee, the Belgian state is demanding 2.4 billion euros (2.88 billion U.S. dollars) in compensation, a figure which equates to Sabena's full liabilities. Enditem

    

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