Dutch housing co-op Vestia sues Deutsche Bank

Vestia, one of the largest Dutch housing co-operatives, said it had filed a large claim against Deutsche Bank, alleging the bank had improperly sold it interest-rate derivatives.

Vestia said it had filed a claim at the High Court of Justice, in London, on December 2, and would specify later how much it intended to seek in damages.

It alleged Deutsche Bank was responsible for €800m out of €2.5bn in damages suffered by the entire Dutch housing cooperative sector, as a result of mis-sold interest-rate derivatives.