(Bloomberg) — Microsoft Corp. will likely reach a deal with Amsterdam Trade Bank trustees on Thursday, avoiding a potential fine for not allowing access to the bankrupt lender’s data.
“We’re almost there,” court-appointed trustee Job van Hooff said by phone, referring to the talks with the tech giant to gain access to data related to the defunct lender.
“I don’t expect Microsoft will receive a fine,” he said.
A Dutch court ruled Tuesday that Microsoft must allow bankruptcy trustees appointed to the Russia-linked Amsterdam Trade Bank to see information including email boxes, excel files, internal committee reports and minutes from management board meetings.
The technology giant risks daily fines of 10 million euros ($10.5 million), with a maximum penalty of 100 million euros, if it doesn’t comply with the ruling, said the court.
Microsoft Faces Dutch Fines in Bankruptcy of Russia-Linked Bank
ATB, a lender linked to Russia’s Alfa Group and sanctioned billionaire Mikhail Fridman, was declared bankrupt last month in the Netherlands after U.S.
and U.K. sanctions paralyzed its payment systems.
Van Hooff told Bloomberg on Tuesday that trustees couldn’t access important information to conduct the investigation into the causes of bankruptcy after Microsoft shut down access.
Microsoft said it is “evaluating potential solutions that would enable us to comply with both the court’s decision and sanctions imposed by the U.S., EU, and U.K.”
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