The Shell Settlement and The Dutch Act on Collective Settlement of Mass Damages

On April 16, 2007, the Brussels and New York offices authored an Alert Memorandum entitled, “The Shell Settlement and The Dutch Act on Collective Settlement of Mass Damages.” This six-page memo discusses the announcement by Royal Dutch Shell plc that it has reached a settlement (the “Shell Settlement”) in connection with the adjustments of its proven oil and gas reserves in 2004. The Amsterdam Court of Appeals will be asked to declare the Shell Settlement binding upon all affected European and other non-U.S. persons, subject to certain opt out provisions, under the Dutch Act on Collective Settlement of Mass Damages. The memorandum discusses the Shell Settlement in the context of the Dutch Act.