Zeeland provincial council has failed to convince judges that it should be able to recover millions of euros lost on an investment product from the local authorities bank BNG, the Financieele Dagblad reports.

The court ruled that Zeeland broke its own rules with the investment in a Lehman Brothers product which originated from a Lehman subsidiary that did not fall under Dutch financial sector supervision.
The province claims it made the investment on the advice of the BNG and demanded €7.5m in compensation – the initial investment plus the ‘guaranteed’ return.
But the court tore up the claim, saying the province should be expected to understand the nature of investment products it is offered and then buys.