Quinn Emanuel Urquhart & Sullivan, LLP (JD Supra Netherlands)
Royal Dutch Shell ordered to reduce its global emissions by 45% by 2030
In a significant judgment that will be of considerable interest around the world, on 26 May 2021, the Hague District Court in the Netherlands ordered that Royal Dutch Shell (“RDS”), on behalf of itself and its wider group (the “Shell Group”), cut its CO2 emissions by 45% by 2030, compared to 2019 levels. The Court’s landmark ruling, which draws on the growing series of climate change agreements...
The Netherlands as an Attractive Alternative for Settling International Mass Claims
Since the U.S. Supreme Court’s decision blocking actions by non-U.S. investors related to securities in companies not listed in the U.S. and traded outside the U.S. (the “foreign-cubed-cases”), Morrison v. Natinonal Australia Bank Ltd., 130 S.Ct. 2869 (2010), the Netherlands has proven to be an attractive forum for bringing international securities class actions. The Netherlands’ attractiveness...
Converium Decision by Dutch Court Promotes European Venue for Binding Settlement of Mass Claims
The Amsterdam Court of Appeal’s recent decision in Converium Holdings AG may signal the emergence of Dutch courts as a forum in which parties can settle cross-border mass claims, subject only to opt outs. In November 2010, that court held that it could declare binding a proposed settlement in a case in which 12,000 investors, only 200 of whom were from the Netherlands, alleged securities fraud...