History was made. The largest settlement ever between a European company and investors. Ageas, the legal successor to Fortis, can close a chapter; Ageas has reached an agreement with disgruntled shareholders from the Fortis past that was ratified by the Court on Friday, July 13, 2018. It involves a EUR 1.3 billion mega-settlement between Belgian Ageas on the one hand and various claim clubs representing a large number of former Fortis shareholders on the other.
Tens of thousands of former Fortis shareholders will receive compensation. “After ten years of litigation, this is a great outcome,” said Adriaan de Gier, who represents the interests of 15,000 shareholders in this matter with his FortisEffect Foundation. “The expectation is that the first payments will be made before the end of this calendar year, although a lot of work will have to be done for that.
You can read about the cancellation of an earlier €1.2 billion settlement and what else preceded it on FortisEffect’s website.
