Stichting FOREX Claim, is a non-profit foundation duly founded under the laws of the Netherlands with its registered seat in Rotterdam. The Stichting is governed by a management board. The board is being assisted by an advisory board. The Stichting intends to comply with the rules of the so called 2011 Claim Code, a code of conduct drawn up by experts operating the Dutch collective redress market.
A Stichting is a legal entity that exists for a specific purpose. The objective of the foundation is to represent private individuals and business who traded (since 01. January 2003 to 15.October 2013) in foreign currencies or obtained financial products that are subject to foreign currencies (eg. Cross currency SWAPs, foreign currency loans, dividend payments) and suffered antitrust damages because of the behavior of the relevant banks (“Victims”).
If the Stichting concludes a settlement, the parties can consecutive proceedings before the Amsterdam Court of Appeal to declare the settlement binding. Such a settlement would be binding on all Victims – nationally and internationally – within the defined group that the Stichting represents. A judgment of Dutch courts are automatically being recognized as a consequence of existing treaties, except on Victims, if any, who explicitly choose to opt-out.