News
Settlement Agreements Declared Binding
23-01-2012
On 17 January 2012, the Amsterdam Court of Appeal has declared the Settlements Agreements binding...Read More
News on oral hearing
18-10-2011
On 3 October 2011, the oral hearing on whether the Settlement Agreements should be
declare...Read More
declare...Read More
A statement of Defence has been filed against the Joint Petition
15-09-2011
A Statement of Defence (SoD) was recently filed against the Joint Petition to have the two Settle...Read More
Settlement Agreements Declared Binding23-01-2012 On 17 January 2012, the Amsterdam Court of Appeal has declared the Settlements Agreements binding
that the Stichting Converium Securities Compensation Foundation (“the Foundation”) and Vereniging VEB NCVB (“VEB”) have entered into with Scor Holding (Switzerland) AG (“Converium”) and Zurich Financial Services (“ZFS”) respectively. The Settlement Agreements provide for compensation to eligible Non-US Exchange Purchasers of Converium common stock. In the judgment, the Amsterdam Court of Appeal confirms its earlier provisional judgment on jurisdiction. The decision means that the Foundation, VEB, Converium and ZFS have been successful further to their petition to the Amsterdam Court of Appeal to declare these Settlement Agreements binding. Further to the provisions of the Settlement Agreements, notice of the binding declaration will be sent to all known Non-US Exchange Purchasers shortly. This notice will set out how, and before what date, Non-US Exchange Purchasers who do not wish to be bound by the Settlement Agreements, may submit an opt-out statement. The notice will further refer to a claim form which must be filed with the claims administrator. Both the notice and the claim form will be published on this website. After the relevant terms for filing opt-out statements and for filing claim forms have expired, the net settlement amounts will be distributed pursuant to the terms of a Distribution Plan that is set forth in Exhibit C to the Settlement Agreements. The judgment of 17 January 2012 can be downloaded from this website. The Hague 23 January 2012 |
