WILLEMSTAD – Former Postspaarbank N.V. (PSB Bank) director Daniel Hodge has again lost in court after the Joint Court of Justice upheld an earlier ruling ordering him to repay a substantial amount to the former banking institution in a long-running pension contribution dispute.
The appellate decision confirms a judgment issued by the Court of First Instance in March 2024, which found Hodge liable for unpaid personal pension contributions linked to his time as director of the bank.
According to the court, the case centers on PSB Bank’s pension arrangement for one of its former directors, with the bank arguing that Hodge had failed to pay his required personal share of pension premiums.
The lower court had partially granted the bank’s claim and ordered Hodge to repay 271,131 guilders, plus interest.
The Court of Appeal has now reached the same conclusion, effectively confirming that the amount remains due.
In its summary of the ruling, the court stated that the matter concerns “the pension arrangement of a director of a banking institution,” and that the bank’s demand for repayment of overdue personal pension contributions was legally valid.
The appeals court found no basis to overturn the earlier decision.
The ruling marks another legal setback for Hodge, who had sought to challenge the financial obligation imposed by the lower court.
Notably, claims related to directors’ liability were not considered in the original proceedings.
At the time, the court ruled that those additional claims could not be properly addressed because they conflicted with procedural fairness requirements.
PSB Bank itself no longer exists as a standalone institution.
The bank was merged with Centrale Hypotheekbank (CHB) as part of a restructuring process, forming APC Bank.
Since July 1, 2025, all former PSB and CHB banking operations — including customer accounts, loans and mortgages — have been fully integrated into APC Bank.
The legal case, however, continues to be pursued through the successor banking entity as part of outstanding financial matters inherited from the merger.
The ruling reinforces the principle that contractual pension obligations remain enforceable, even after major institutional restructuring or the disappearance of the original legal entity.
It remains unclear whether Hodge will seek further legal recourse through cassation proceedings.