Ageas settles with investors for EUR 1.2 billion.
Largest European settlement of investment compensation to date – The Belgian insurer, Ageas, the legal successor to the Dutch-Belgian insurer, Fortis, has offered its investors a settlement worth EUR 1.2 billion. The settlement involves accusations that incorrect information was provided to investors in 2007 and 2008 concerning the nationalisation of the bank by the Dutch state in October 2008, amongst other things. The settlement is based on an agreement which Ageas reached with four interest groups, including Stichting FortisEffect. As in the case of legal proceedings during the past seven years, Stichting FortisEffect had arranged to be counselled by a team of specialist financial law practitioners headed by Adriaan de Gier of De Gier Business Finance Law. For a press release see: Press release Ageas March 14, 2016