Date: 30th July 2018
Author: BETTER FINANCE
On the 13th of July the Dutch Court of Appeal endorsed the agreement between Ageas, the legal heir of Fortis, and the organisations representing the abused shareholders. A deal has been reached ten years after the dismantling of Fortis, with a sum of € 1.3 billion on the table to compensate the shareholders who will be finally able to recover part of their losses.
The Netherlands is the only country in the European Union to have an effective collective redress mechanism in place thanks to which defrauded Fortis investors throughout the EU were able to request compensation.