OPTIMA BANK was a young Belgian bank with headquarters in Brussels and in Ghent . In 2016 the National Bank of Belgium (NBB) claimed to have found irregularities after a long lasting investigation. The licence of the bank was withdrawn and as a consequence the bank went bankrupt leaving thousands of clients with high losses.
Geert LENSSENS of SQ LAW was consulted by a large group of clients, institutional investors as well as private investors and SQ LAW started a special recovery program during which the official guaranteed Bank Guarantee Fund reimbursed most of the clients of the banks up to one hundred thousand euros . SQ LAW managed even to obtain considerable larger compensations after it appeared that the limit of 100.000 eur provided by the law had to be applied individually to each account but also to each person. Finally many clients of the bank holding funds of more than one hundred thousand euros, including government agencies and institutions, and SQ LAW started litigations. In the meantime, and after several litigations, the perspective of many of these clients has turned from negative to positive or moderated positive.
The case is still ongoing.