- A Dutch Court ordered Microsoft Corporation (NASDAQ:MSFT) to allow bankruptcy trustees appointed to the Russia-linked Amsterdam Trade Bank to access its data or face damages, Bloomberg reports.
- Netherlands declared ATB, a lender linked to Russia's Alfa Group, bankrupt after U.S. and U.K. sanctions paralyzed its payment systems.
- ATB had 23,000 private account holders and 6,000 customers in Germany.
- ATB, in which sanctioned billionaire Mikhail Fridman held an interest via Alfa Group, had over €1.2 billion in assets, according to a 2020 report.
- ATB lost access to email boxes containing critical information for trustees to investigate the causes of the bankruptcy.
- ATB also lost access to documents, excel files, internal committee reports, and minutes from management board meetings.
- Microsoft is vulnerable to daily penalties of €10 million ($10.5 million), with a maximum penalty of €100 million.
- The trustees will look to liquidate the bank's assets, followed by investigating the causes of the bankruptcy.
- The central bank said it would pay eligible ATB account holders a maximum of €0.1 million per person.
- Price Action: MSFT shares traded at $282.25 in the premarket on the last check Wednesday.
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