Dutch pension group Pensioenfonds Vervoer will file a $387m case against global investment banking and securities firm Goldman Sachs' asset management arm over its handling of a €7bn (£5.6bn) pension fund, which lead to substantial lossesduring financial crisis.

The case is expected to be filed at the High Court in London, which subsequently will expose how Goldman Sachs subsidiary invested the transport worker’s pension funds in unsuitable assets, as reported by The Telegraph.

The pension group accused the New York based asset manager for the investment of pension fund into the riskier market.

In 2008, the fund’s performance was not so bad when compared to other rival funds, but Vervoer replaced Goldman as its main asset manager in 2010 after reviewing the bank’s performance.

The decision to replace the bank was taken in the wake of SEC accusing Goldman over fraud charges relating to the Abacus debt-backed security investment.

Pensioenfonds Vervoer is the mandatory pension plan for the Dutch transport sector, for which employers must take part unless they can find outside pension managers who can guarantee equal or better returns.

Having more than €800bn of assets Dutch pension plans, the largest in the eurozone has been struggling in recent years to meet legally required ratios of assets to liabilities due to low interest rates and poor equity returns.