Collective action stopped due to lack of benefit for class members

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On 9 December 2020, the Amsterdam District Court (the “Court”) declared a foundation inadmissible in a collective action regarding alleged manipulation of LIBOR, EURIBOR and other interest rate benchmarks. The foundation sought declaratory judgments that Rabobank, UBS, Lloyds Bank and ICAP (the “defendants”) had engaged in wrongful conduct and unjust enrichment vis-à-vis the class members. The Court ruled that that … Read more

Amsterdam District Court puts a halt to unlimited forum shopping

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On 25 November 2020, the Amsterdam District Court (the “Court”) declined jurisdiction over all non-Dutch defendants (the “foreign defendants“) in proceedings for compensation of damage based partly on an infringement of Article 101 TFEU. The proceedings were initiated by four public utility companies from the Gulf States (“claimants“) against both Dutch and foreign defendants. The court rejected the claimants’ argument … Read more