3 February 2022

De Brauw assists and represents Ageas in settlement ruling by Amsterdam Court of Appeal

On 13 July 2018, the Amsterdam Court of Appeal declared the collective settlement agreement between Ageas (Fortis' legal successor) and several commercial and non-profit claimant organisations acting on behalf of former shareholders of Fortis (that is, Vereniging van Effectenbezitters, Deminor, Stichting Investor Claims Against Fortis and Stichting FortisEffect), binding in accordance with the Dutch Act on Collective Settlement of Mass Claims ("WCAM"). As a result, the settlement became binding on all investors who purchased or held Fortis shares in the period between 28 February 2007 and 14 October 2008, except for those who actively opted-out of the settlement before 31 December 2018.

The settlement amounts to potentially more than EUR 1.3 billion. De Brauw Blackstone Westbroek assisted Ageas as lead counsel in the negotiations that preceded the settlement, with a team led by Harm-Jan de Kluiver, Dennis Horeman and Jan Willem Meijer.