Current status of proceedings AIRS5. Decision on standing and appointment exclusive representative
The District Court The Hague will render its judgment on AIRS’ standing and on the appointment of exclusive representative by
20 September 2023.
4. First hearing and consequent submissionsOn
23 March 2023 the first hearing took place at the District Court The Hague. The hearing dealt with the standing of AIRS and the appointment of the exclusive representative.
AIRS has pleaded (i) that the WAMCA (the Dutch law on settling collective actions) is applicable and (ii) that AIRS should be declared admissible.
In addition, AIRS has requested the court to be appointed as the exclusive representative (the lead plaintiff) and to decide that the opt-out regime will apply to foreign investors, so that these investors are not required to take further action in order to benefit from the outcome of these proceedings.
Following the court’s decision of
29 March 2023, AIRS submitted on
12 April 2023 the arrangements in relation to its funding. Airbus submitted a response on
26 April 2023. Upon the request of the court parties have filed further submissions on
24 May 2023 and
7 June 2023.
3. Case management decisionOn
31 August 2022, the District Court The Hague decided on the case management of the proceedings. The court ordered that a hearing will be held in
March 2023 to deal with the admissibility of AIRS bringing the claim and the appointment as the exclusive representative to consequently plead the merits of the matter.
In preparation of the hearing both Airbus and AIRS are allowed to file written submissions. Airbus has filed its submission on 23 November 2022. AIRS’ submission was due and filed on 22 February 2023.
2. Issue of summons
On
1 April 2022, AIRS issued a
writ of summons to Airbus.
1. Invitation to open negotiations
On
6 August 2021, AIRS sent a letter to Airbus, holding Airbus liable for the damages incurred by Airbus investors. The letter was also to interrupt the statute of limitations on behalf of all Airbus investors.
On
1 December 2021, Airbus replied, denying all charges and rejecting the invitation to negotiate to avoid legal proceedings.