Housing associations want money back

Six neat, small housing associations already 3 years carry a legal battle against the charge of 675 million euros paid by the sector in 2013 to save Vestia from destruction. The State Council decision soon or knows the imposed solidarity between social housing boundaries.

Also require landlords from Den Helder, Enschede, Vollenhove, Balk, Lemmer Emmeloord and a principled statement of the country's highest administrative court. Want to help out a fellow accommodation provider in financial need is one thing. But what if there has been speculation for billions irresponsible interest rate derivatives, while regulators were asleep?

Lawyer Guido Sale on behalf of the six: ,, It would mean that the sector is always rotating in a corporation which is in trouble, no matter what they did. "

Vestia, brought to the brink of collapse by director Erik Staal, should have gone bankrupt, find the six corporations. Other associations could take over the social rental housing.

superlevy
Instead, the Central Fund decided Housing - that lives on in the new Authority Housing Associations - which Vestia needed to be cleaned up. Since the fund had enough cash in hand, any other corporations received an additional levy imposed from 675 million euros, 85 percent of which was destined to save Vestia.

,, That money disappeared from the corporation system and went to banks that had closed the derivatives, "says Koop. Tenants at Vestia faced rent increases, while the corporation also had to sell part of the housing stock.

The Ministry of Housing and National, where the housing authority is subject, sees it differently. If Vestia went bankrupt, it could have been done with the low interest rates that corporations pay on loans. More risk means higher interest rates.

enforce
What puts the small corporations is that the Central Fund never explored whether the bill could otherwise be paid. Buying lawyer draws a comparison with ABN Amro and SNS Reaal. Both banks were bailed out with taxpayers' money. The CFI, however, that for such a rescue by the state political will is needed. And who could not enforce the Fund. Buying is not convinced.

The Council was entitled to the corporations in the right, they must recover the levy. The ruling follows within six weeks.

By Editorial: AD / Laurens Cook Photo: AD / Angelique Mulders.