Stichting Investor Loss Compensation (SILC), established under Dutch law on 15 July 2021, aims to protect and represent the interests of investors and participants when corporations and their individuals act dishonestly, causing significant financial harm to you and the market. Airbus had materially misrepresented and omitted key facts during the height of its scheme to offer and pay bribes via its employees, executives, and business partners to government officials and airline executives around the world in order to obtain illegal business advantages and win orders on hundreds of aircraft. SILC has brought a collective proceeding against Airbus and other related parties in the Netherlands and seeks to obtain fair and adequate damages for affected investors. Joining this claim is a step forward in holding Airbus and others accountable for their actions.
The foundation is unique in its use of the new act on the collective damages claims, WAMCA (Wet Collectieve Afwikkeling Massaschade), which came into force in the Netherlands on January 1st, 2020 and provides an efficient mechanism for collective redress allowing SILC to resolve the claims of all investors in a coordinated manner. If and when needed, SILC will also litigate the claims in various other jurisdictions in order to make investors and participants whole.
The Foundation is being advised by a leading group of attorneys, academics, and professionals from around the world. These professionals are highly respected and recognized as outstanding leaders around the world in the fields of collective redress and the administration of collective actions.
The Board of Directors
Leonardus Cornelis Spigt
Leo is the chairperson of the Board of Directors. He has over 45 years’ experience as an attorney, and is the former Dean of the Dutch Bar Association. He specializes in corporate law and insolvency law, and has acted as senior counsel in several major litigations.
Leo has also co-founded numerous law firms, including a top tier law firm based in Curaçao. He is regularly appointed in matters of corporate law, under the laws of the Netherlands and abroad, and advises on matters relating to collective actions and mass claim litigation.
Prof. Marta Pertegás Sender
Marta studied law at the University of Barcelona, Spain; and completed a Master of Laws and PhD at the KU Leuven, Belgium. From 2002 to 2008, she taught private international law, international and comparative procedural law and World Trade Organization law as a full-time tenured professor at the University of Antwerp, Belgium. She has written a large number of publications on private, family and commercial international law, and currently serves on the Executive Committee of the Dutch Branch of the International Law Association. In addition, since 2003 she has been a Member of the Groupe belge de Droit International Privé, which assisted with the development and assessment of the Belgian Code on Private International Law.
Marta also joined the Permanent Bureau of the Hague Conference on Private International Law in February 2008 as Secretary and focuses on the Hague International Litigation Conventions and other projects related to commercial international law. She became First Secretary in February 2011, with primary responsibility for international civil procedure and commercial law projects, including the development of the 2015 Hague Principles on Choice of Law in International Commercial Contracts and the relaunch of the Judgments Project since 2011. Marta is the current Holder of the Chair on Private International Law and Transnational Law at Maastricht University. Besides her Chair at Maastricht University, Marta holds a position since 2002 at Antwerp University and is a Visiting Professor of the University of Johannesburg in South Africa since 2019.
Otto de Vries
With a background based extensively in finance, Otto brings a valuable perspective and skillset to the Board. He graduated from the University of Groningen after studying Business Economics and Management, and completed senior management trainings at the University of Nijenrode and Krauthammer International. He has worked in the management team or board of several companies including Arcadis N.V. (formerly Heidemij Group N.V.), Royal Nedlloyd Group N.V., and Tulip Computers N.V. As former Managing Director of Tulip Holding, his areas of focus included operational audits; tax and legal affairs; and collective labour agreement negotiations, among others.
Otto also worked for Boer & Croon Executive Managers B.V. from 1998 to 2005, where he held various management-level positions such as Board Member/CFO at Transmark Holding N.V.; Corporate Treasurer at HBG NV; and Board Member at Randstad The Netherlands. More recently he was a Board Member and CFO with Royal Econosto N.V. from 2005 to 2009 where he helped in the restructuring and refinancing of the group, as well as being Chairman of the group pension fund; and from 2014 to 2017 was with Corona Holdings N.V. as Board Member and CFO.
Karl Peter Puszkajler
Karl is the chairperson of the Supervisory Board. As a former judge on the Court of Appeal in Munich, Karl decided thousands of civil and criminal cases and gained extensive experience in all areas of commercial and corporate law. After retirement from the Court of Appeal, he has focused on international private law and expanded his practice as an independent arbitrator both domestically and internationally.
For decades Karl has been teaching and training lawyers and judges in Eastern Europe, the Middle East and North Africa. He also consulted the Rwandan government in re-establishing the judiciary after genocide ravished the country, and recently advised the administration of the Autonomous Region Kurdistan in a project to modernize enforcement proceedings. He is also the co-author of commentaries to the German law on limited liability companies (GmbhG) and on the compensation procedure for minority shareholders (SpruchG).
Jeroen currently works as a senior legal counsel, and previously worked at Edinburgh University, University College London, University of Amsterdam, and Leiden University, where he held the Leiden chair of Roman Law and Legal History. He was also previously a judge with the district court Arnhem and the Court of Appeal Amsterdam for over twenty-five years in both the private law and criminal law divisions.
As a Vice-president of the Amsterdam court of appeal he presided over the World Online case and worked on some of the first WCAM cases, including the Dexia and Shell settlements. His published scholarly work is mainly concerned with Civil Procedure, Roman Law (including its medieval and modern history) and Comparative Law.
Dr. Christoph Kuzaj
Frequently recognized for his role as one of the global leaders in finance, Christoph is the managing director of Therium Deutschland GmbH. With more than 20 years of experience, Christoph has specialised in corporate and capital markets law with a particular focus on complex corporate litigation.
Christoph’s litigation practice extends to disputes arising out of private and public M&A-transactions, including defensive actions in takeovers, and corporate special situations. Christoph is admitted to the German Bar Association, holds a degree in law with distinction and a Juris Doctor, magna cum laude. Christoph attained his Juris Doctor on completion of his postgraduate studies on specific fields of German Civil Procedure Law.