2023-05-01 12:02:00
Tattoos on the arms, bracelets on the wrist, rings on the fingers, a big chain around the neck. Geert Lenssens does not have the usual look of business lawyers. This difference is probably due to his side “rebel” that he was at eighteen years old and that he has “still today in his heart”. He who is often involved in high-profile cases, including the latest: the rescue of Credit Suisse by its rival UBS.
Minister’s son
The first time he was talked about in the newspapers was in the Lernhout & Hauspie file, this Flemish “flagship” of voice recognition whose turnover had been artificially inflated. As often, he defended small shareholders who saw their investments go up in smoke.
Defending the widow and the orphan is a choice that sticks to his tattooed skin. Son of CD&V Minister Jan Lenssens, himself a trained social worker born into a family of twelve children, Geert Lenssens remains attached to social-Christian values. “I consider myself a humanist who believes in God”confess that “happy grandfather.” He takes care of his body “which is our temple”practicing walking, tai chi, doing push-ups (150 every morning) and having a diet “almost vegetarian”.
In the history of the fall of Fortis, he was the first to file a criminal complaint. “At the time, we had noted relevant facts”, he said sibyllinely, because he is “bound by professional secrecy”. Since these criminal charges were dropped as a result of the transaction, he is satisfied that they “play a role” in the indemnity agreement (settlement) found in the Netherlands. And this because there was a risk for Fortis (now Ageas) of being sued. He does not agree with those who accuse him of sometimes launching legal actions lacking an in-depth analysis of the chances of success. “I don’t think I am impulsive but rather dynamic and strategic; I am a man of action but thoughtful.”
Geert Lenssens also calls himself a lawyer “hybrid” who has a penal and financial fiber. “Deception mechanics are of particular interest to me.” Author of a book on the subject, he came to the conclusion that there are always three elements in major scams. One: there is one “décor”. It can be a bank or a website. Two: there is a “weakness” such as a romantic relationship or a debt of money. Three: the “theater, which is not present in all the files”. By theatre, he means the play that is being performed. And to quote Bernard Madoff, “a fantastic actor”. “This kind of deception can be found everywhere. Even in small businesses.”
“A lot of frustration”
Of course, he didn’t win all of his cases. “The lawyer who claims it is lying.” For Lernout&Hauspie, he is aware that there has been “a lot of frustration” from investors who recovered little. At issue: the lack of solvency of the convicted parties. Certain clients were entitled to compensation from Dexia Bank following the class actions in the United States where the bank was involved. In Belgium, it is more difficult “because the judicial system, with all due respect, is not capable of dealing with major financial cases”.
Other cases were much more conclusive. This is the case of Citbank and Swiss Life, where hundreds of customers who had subscribed to a misleading product were able to recover a large part of their stake.
Registered at the Brussels Bar (in the Dutch-speaking role), Geert Lenssens took a new step at the beginning of this year by joining the firm SQ-WATT Legal which was co-founded by Laurent Arnauts and the late Robert Wtterwulghe. The two men had already met in the Fortis file. They hope to attract new partners to this firm, which has fourteen employees. “We are in the expansion phase.” He shares with Me Arnauts the passion for contemporary art. They both brought some works to the mansion on Avenue Louise where the practice is located. “What interests me in art is astonishment, which has nothing to do with aesthetics. I’m also looking for authenticity”, he says, pointing to a large, brightly colored painting by Belgian artist Jan De Cock. One could imagine that Geert Lenssens was not going to praise a Vermeer or a Botticelli whose talent is no longer to be proven… Rebellious, always.
Geert Lenssens, and bref
March 24, 1960: birth in Antwerp of Geert Lenssens.
July 1983: law degree (KULeuven).
2000: registration at the Brussels bar after having been active at the Dendermonde bar.
January 2023: Geert Lenssens joins SQ-WATT Legal, where he becomes a partner.
“It’s not a coup d’etat but a coup d’etat”
Geert Lenssens announced a few weeks ago that he had been asked by a law firm in Zurich to advise on the takeover of Credit Suisse by its rival UBS. “I consider that this file has many similarities with that of Fortis. It is not a coup d’etat but a coup de l’etat.”
The questions are quite similar to those asked in the Fortis case: “Do we need a general meeting? What about the price that was negotiated in a weekend? On Friday, we were talking about one billion, on Saturday two, on Sunday three billion, which is the price that was retained It was like the market in Marrakech”he explains. First, Geert Lenssens has an expert role but he does not rule out pleading. While remembering that this kind of procedure can last. “You have to be patient.“
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