Dexia Hasn’t Found Way to Recover Pension Payments to Richard

Dexia SA (DEXB) Chairman Jean-Luc Dehaene said the bank has so far not found any judicial grounds to recover pension payments to former chief executive officer Pierre Richard.

Speaking to shareholders at the annual shareholders’ meeting in Brussels, Dehaene said that Dexia has no access to the capital reserves of Richard’s pension as they have been transferred to a third-party insurer. The contracts were drawn up before 2008 and Dexia is still trying to find a way to retroactively change the terms of the pension, Dehaene said.

To contact the editor responsible for this story: John Martens at jmartens1@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.