CORP. successful in claw back proceedings against former directors of a corporation

CORP. litigated for a company against its former directors who had benefited themselves through unauthorized withdrawal of funds. In proceedings on the merits, the Amsterdam District Court annulled, on the basis of Article 2:15 of the Dutch Civil Code, board resolutions that sought to provide salaries and other financial benefits to the former directors on improper grounds. The court ruled that there was improper administration and serious culpability. The court ordered the ex-directors to repay substantial sums of money or pay damages.