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Dutch Court Orders Van der Moolen Investigation

06 July, 2010
A Dutch commercial court on Monday ordered an investigation into the collapse of the brokerage Van der Moolen, which went bankrupt last September after 117 years as a key player on global stock exchanges, Reuters reported.

The commercial court said the investigation would look at the activities of the company and its management from the start of 2005 up to and including the bankruptcy filing.

Lawyers for Van der Moolen and its former chief executive, Richard den Drijver, could not be reached for comment.

Once one of the top market makers in New York, Van der Moolen was known as "King of the Damrak” for its key role in the Dutch exchange as well. But as electronic trading grew the firm shrank, struggling to find a new business model.

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