DSB seeks 93m for possible rescue plan after takeover talks break down

David Hellier
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DUTCH bank DSB is seeking a state capital injection of 100m euros (&pound;93m) as part of a rescue plan also involving the conversion of savings deposits into stock, after talks with a potential US.buyer broke down.<br /><br />A Dutch court appointed administrators last Monday at DSB at the request of the central bank after a run on the bank drained 600m euros in deposits in just 12 days. DSB&rsquo;s owner and founder, Dirk Scheringa, had since tried unsuccessfully to find a buyer for the business.<br /><br />In a statement, DSB said last night that the company could continue operations if it secured a conversion of a &ldquo;large amount&rdquo; of savings deposits and a capital injection from the Dutch state.<br /><br />The Finance Ministry was not immediately available for comment. But a spokesman for the court-appointed administrators said he doubted the court would allow the time needed to try and implement such a plan.<br /><br />&ldquo;It would take at least a few weeks extra delay and when I read the court verdict, it does not leave room for a delay,&rdquo; the spokesman said.