Beyond Tulips and Cheese: Exporting Mass Securities Claim Settlements from The Netherlands

T.M.C. Arons; W.H. van Boom

doi:10.54648/eulr2010040

Beyond Tulips and Cheese: Exporting Mass Securities Claim Settlements from The Netherlands

Research output: Contribution to journal › Article › Academic › peer-review

Abstract

With the enactment of the 2005 Collective Settlement of Mass Damage Act (WCAM 2005) the Dutch legal system and indeed Dutch society has taken a significant step towards a more efficient resolution of mass damage claims. The WCAM 2005 seems especially promising for attaining relatively swift settlement of mass securities claims in the Dutch context. Since, however, stock traded on the Amsterdam exchange is not exclusively owned by shareholders resident in The Netherlands, the obvious question is to what extent settlements under the WCAM 2005 have cross-border effect. Against this background, this paper has a twofold purpose. First, we aim at providing a general outline of the Dutch legal system concerning the collective settlement of mass damage claims. Secondly, we discuss issues of international jurisdiction, cross-border recognition, res judicata and enforcement of opt-out securities settlements under the WCAM 2005. Have the Dutch found a new export product with the enactment of the WCAM 2005?

Original language	English
Pages (from-to)	857-883
Journal	European Business Law Review
Volume	21
Issue number	6
DOIs	https://doi.org/10.54648/eulr2010040
Publication status	Published - Dec 2010
Externally published	Yes

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10.54648/eulr2010040

Arons Van Boom, Beyond Tulips and Cheese, EBLR 2010, Vol. 21(6)Final published version, 234 KB

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title = "Beyond Tulips and Cheese: Exporting Mass Securities Claim Settlements from The Netherlands",

abstract = "With the enactment of the 2005 Collective Settlement of Mass Damage Act (WCAM 2005) the Dutch legal system and indeed Dutch society has taken a significant step towards a more efficient resolution of mass damage claims. The WCAM 2005 seems especially promising for attaining relatively swift settlement of mass securities claims in the Dutch context. Since, however, stock traded on the Amsterdam exchange is not exclusively owned by shareholders resident in The Netherlands, the obvious question is to what extent settlements under the WCAM 2005 have cross-border effect. Against this background, this paper has a twofold purpose. First, we aim at providing a general outline of the Dutch legal system concerning the collective settlement of mass damage claims. Secondly, we discuss issues of international jurisdiction, cross-border recognition, res judicata and enforcement of opt-out securities settlements under the WCAM 2005. Have the Dutch found a new export product with the enactment of the WCAM 2005?",

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Beyond Tulips and Cheese: Exporting Mass Securities Claim Settlements from The Netherlands

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