A limitation fund amounting to SDR 1,795,600 was deposited into a bank account at ABN AMRO Bank in the joint names of the supervisory Judge and the liquidator of the fund. ABN AMRO periodically charges fees at the expense of the limitation fund. By a letter of 19 February 2020, ABN AMRO informed the Court that it would no longer pay credit interest from 1 April onwards, and that it would charge negative interest rates for surplus balances higher than EUR 2,500,000.

By a letter of 26 February 2020, the Dutch Ministry of Finance confirmed that the official Consignment Fund (Consignatiekas) [see https://www.rijksoverheid.nl/onderwerpen/consignatiekas] neither charges negative interest rates over amounts deposited nor charges additional fees. The supervisory Judge and the liquidator of the fund applied to the Court to be allowed to transfer the limitation fund to the Consignment Fund.

Held: Application granted.

The supervisory Judge and the liquidator have stated that neither the applicants nor the interested creditors object to the transfer applied for. Therefore, it is considered expedient to transfer the balance of the limitation fund to the Consignment Fund.