AZ Alkmaar goes bankrupt

The shareholders need not fear that a buyer comes to AZ. According to a regional newspaper there are two investors: one from the Middle East and one from the East. DSB Bank is  bankrupt. Under the law, all other branches of the main company, including the football club AZ, Scheringa Museum of Realism and the DSB-skating team will do the same.

As soon as DSB Management goes bankrupt, AZ shares will go to a liquidator. "The highest bidder wins," explains lawyer Hidde Reitsma from the office of Blenheim. "Of course, the KNVB and the Supervisory Board have requirements for a new owner of AZ, but this is a kind of execution sale. The liquidator can only exercise corection. He will let the stock value and then seek an optimal yield, but bankruptcy is not always the market value.''

Scheringa can even buy back its shares. "This is not necessarily harsh. He knows the club, he is chairman.

The liquidator can not make AZ to sell players. The liquidator may well insist, but that is not expected.