The Netherlands and the Future of European Securities Litigation
The Netherlands has become an important jurisdiction in Europe for the settlement of collective securities claims. Under the Dutch Wet Collectieve Afwikkeling Massaschade (Class Action Financial Settlement Act) the Amsterdam Court of Appeal has approved a settlement in the Royal Dutch Shell class action for Dutch and other European investors, and non-Europeans as well, and has scheduled an October hearing on the proposed Converium settlement.
• Can the scope of the Act be expanded from enforcing settlements to bringing claims on behalf of investors?
• Will other European states recognize decisions of the Amsterdam Court of Appeal or will each state develop their own legislation?
• What does the future hold?
The small, select group of institutional investors, issuers, academics and regulators participating in this roundtable represent diverse perspectives.
C.E. du Perron, Dean and Professor of Private Law at the Amsterdam Law School
Professor Perron specializes in Financial Law and Tort Law, but also publishes on Contract Law. His current courses include Aansprakelijkheidsrecht (General Liability Law, first year Bachelor) and Financieel recht (Financial Law, Master). He also teaches a number of post-doctoral courses in Financial Law, Tort Law and Contract Law. In addition to his work at the University of Amsterdam Law School, Mr. Perron serves as Chairman of the Financial Services Complaints Commission at the Financial Services Consumer Complaints Institute (Kifid). He is also a part-time substitute judge in the Amsterdam Court of Appeals.
In November 2009 Professor Perron was appointed member of the “Commissie Scheltema”, which investigates the fall of the DSB Bank in The Netherlands. Previously, with his colleague Adrienne de Moor – VanVugt, he wrote a report on the supervision of Icesave(Landsbanki) in the Netherlands by the Dutch Central Bank (DNB)
IIEF members are invited to read a comprehensive report of the lively Roundtable discussion.