Claim Code compliance
AIRS complies with the principles of the Claim Code with one exception, which relates to the provision that its lawyer will act exclusively for and on behalf of AIRS and its constituency (Principle III.4).
As explained in “About AIRS
” Scott + Scott acts both for AIRS and Airbus Investors Recovery Limited, a special purpose company which represents approximately 200 affected institutional investors in separate proceedings against Airbus.
The Management Board and the Supervisory Board have agreed arrangements which safeguard the independence of Scott + Scott in representing the interests of the investors represented by AIRS. Reporting
AIRS will keep affected investors informed on progress being made in its actions against Airbus. Investors who have signed up will be consulted in line with the Claim Code on material issues.
The Claim Code statement can be found here
The members of the Management Board and the Supervisory Board are paid on an hourly basis (EUR 240) for their services to AIRS. AIRS will report the amount of fees and expenses that have been incurred by the members of the Managing Board and the Supervisory Board in its annual report.