As the rise of collective investor actions has gone global, one of the questions that has arisen is whether a country other than the U.S. would become a preferred forum in which investors might pursue their claims, even investors from outside the forum country. Australia is among the countries that have been suggested. Another country that has comes up in this conversation is The Netherlands, which recently was the location of a massive investor settlement. Investors angered by several high profile scandals in other countries have also filed claims in The Netherlands. All of these developments have added to the suggestion that The Netherlands may be becoming a preferred forum for investor actions from around the world.
However, a recent court decision in an investor action filed in the Netherlands against BP and arising out of the Deepwater Horizon platform disaster may suggest that Netherlands collective action procedures may not be available for investors seeking to recover purely financial losses where the alleged wrongdoing took place outside the Netherlands and there are no other factors connecting the case to Netherlands.
Continue Reading Dutch Court Dismisses Collective Investor Action Against BP on Jurisdictional Grounds