The Netherlands as an alternative for settling international mass claims in Europe, after the U.S. Supreme Court ruling in Morrison v NAB
A Dutch court recognised the judgment by a U.S. court approving a worldwide class action settle-ment under U.S. law, thereby barring class mem-bers who did not opt out from ever bringing a claim against the defendants anywhere in the world.
The principal reason for recognition was that the Netherlands itself has a similar system for collec-tive settlements. The Dutch system is unique in Europe, and makes the Netherlands an attractive jurisdiction for settling international mass claims.
This is reinforced by the recent U.S. Supreme Court decision blocking security class actions by non-US investors related to securities in compa-nies not listed in the U.S. and traded outside the U.S. (see: Morrison v National Australia Bank).
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