NOTES
ON INDIVIDUAL ITEMS IN THE COMPANY AND GROUP BALANCE SHEETS
Company Balance Sheet Group Balance Sheet
1996
1995
1996
1995
Commitments and guarantees*)
Guarantees given to third parties
36,578
53,625
35,612
45,963
Guarantees on behalf of participating
interests
509,309
731,678
0
0
Guarantees given to third parties:
- on behalf of Transveer B.V.
17,300
418,786
17,300
418,786
- covered by counter-guarantees
(17,300)
(418,776|
117,300)
(418,776)
545,887
785,313
35,612
45,973
Irrevocable facilities*)
Credit facilities offered to
and accepted by clients
471,156
482,066
472,946
482,338
Partly on account of the security provided by the parent company, there are no concentrations of credit risk nor
m charges on assets.
Liability commitments
In accordance with Article 403, Part 9, Book 2
of the Dutch Civil Code, the company has
undertaken joint and several liability for any debts
resulting from legal transactions entered into by
firms in which the company has a 100% interest
and which have been specified as such in the
consolidated financial statements. These
participating interests are listed on page 30.
Ministry of Finance claim
Notice is given of the fact that with respect to
the sale of companies with a fiscal replacement
reserve in the early 1980s, the Dutch Ministery of
Finance summoned FGH BANK N.V. and the other
companies involved in this sale in 1993. The
Ministry holds all companies involved jointly and
severally liable for the taxes not paid on the said
replacement reserves by the purchasers of these
companies. The potential claim amounts to some
tens of millions of guilders. By interlocutory
judgment in December 1996 the court decided that
the Ministry of Finance should submit further
evidence. We remain confident as ever about the
outcome of the proceedings.
