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The administration of the claims in the Fortis settlement is now complete and the settlement has come to a complete end.

This website is being maintained for a period of time for historical purposes only. The information on this webpage may therefore not be up to date.

QUESTIONS ABOUT THE CLOSING OF THE FORTIS SETTLEMENT

I heard the Fortis settlement is coming to an end. How come I have not been informed directly?

On 23 June 2022 Ageas indeed announced the closing of the Fortis settlement and the payment of final instalments on or about 25 August 2022. To find out what this means for you, please be patient for a few days. All claimants with an accepted claim will be notified individually of their Final Claim Amount and the amount of their final instalment, if any. To that effect they will receive a Final Determination letter either directly from Computershare (the Claims Administrator) or from the organisation that filed their claim on their behalf. Claimants who ordinarily receive their Fortis settlement related information by email (as opposed to by regular post) should check their inbox as well as their spam or junk folder to ensure they have not missed any communication.

Claimants are kindly requested to be patient and to not call or email the call centre to get information about their specific, individual claim before they have received their Final Determination letter at the end of June. Before such time the call centre will not yet have the details of claimants’ Final Claim Amounts and final instalments.

In the meantime, in addition to this FAQ, you can find general information on the homepage of this website. There you will find more details on how the payment percentages for each of the four compensation buckets (Buyer Shares, Holder Shares, Compensation Add-On and Cost Addition) were calculated; these percentages will be used to determine your Final Claim Amount on the basis of your Provisional Claim Amount.

Why did it take so long to close the Fortis settlement? Why do I have to wait almost three years after the 28 July 2019 Claim Submission Deadline for the full payment of my compensation?

Adjudicating over 300,000 claims received, responding to thousands of queries from claimants, effecting payments and resolving disputes takes time and diligence.

In addition, the total Settlement Amount payable by Ageas is fixed, at €1,308,500,000, and must be shared between all claimants with valid claims. Your Final Claim Amount and your final instalment, if any, depend on the actual volume of all valid claims in each compensation bucket (Buyer Shares, Holder Shares, Compensation Add-On and Cost Addition). Therefore, all claims received had to be adjudicated and disputes had to be resolved. More claims were filed than expected and some claims and disputes were complex. As a result, the administration of the Fortis settlement took longer than expected.

Under the Settlement Agreement final calculations for all claimants can only be made after the very last dispute has been resolved in order to determine the allocation of the approved fixed Settlement Amount of €1,308,500,000 between all eligible claimants. We have now reached the point that only a very limited number of disputes are still pending before Computershare (the Claims Administrator) or the Dispute Committee. However, Ageas and the other stakeholders represented in Stichting FORsettlement did not want to let such a limited number of unresolved claims keep the other claimants waiting any longer. Ageas therefore agreed to bear the potential costs for the remaining unresolved claims. This allows to close the Fortis settlement for some 279,000 claimants with accepted claims.

We understand that claimants had to exercise a great deal of patience and thank them for this.

How are my Final Claim Amount and final instalment calculated?

The total Settlement Amount payable by Ageas is fixed, at €1,308,500,000, and must be shared between all claimants with valid claims. Thus we first needed to know the total amount of all valid claims before we could fully allocate this fixed amount between them. Your Final Claim Amount and the balance payable to you, if any, are calculated so that all claimants share in the Settlement Amount in the same proportion, in accordance with the rules set out in the Settlement Distribution Plan as approved by the Amsterdam Court of Appeal.

Your Final Claim Amount and your final instalment, if any, depend on the actual volume of all valid claims in each of the four compensation buckets. Applying the actual volume of the accepted claims to the size of each bucket as set out in the Settlement Agreement yielded the following payment percentages:

Buyer Shares 100%
Holder Shares 77.47907101%
Compensation Add-On 61.61642999%
Cost Addition 120%

Your Final Claim Amount is calculated by applying these payment percentages to each corresponding component of your Provisional Claim Amount, as accepted by Computershare (the Claims Administrator) or the Dispute Committee. Note that your Provisional Claim Amount was calculated based on the evidence you provided for the number of Fortis Shares held and for any Active Claimant status: this may or may not correspond to the number of Fortis Shares or Active Claimant status for which you initially claimed compensation.

Your final instalment is the positive difference between your Final Claim Amount and the instalment(s) you already received. If your Final Claim Amount is equal to what you already received, you will not receive a final instalment. If your Final Claim Amount is less than what you already received, you will not receive a final instalment.

Please refer to the homepage of this website for more details on how the payment percentages were calculated.

Please refer to your June 2022 Final Determination letter for the detailed calculations in your individual case.

How can my Final Claim Amount and final instalment be calculated if there still are a few unresolved claims?

A few claims indeed remain unresolved, because of disputes relating to Provisional Claim Amounts that are still pending with Computershare (the Claims Administrator) or with the Dispute Committee.

Because the fixed Settlement Amount of €1,308,500,000 must be shared between all valid claims, the outcome of a dispute with any one claimant can have an impact on the calculation of the Final Claim Amount of all other claimants. The resolution of a dispute can take several months. In order not to delay the finalisation of the calculations and the payment of the final instalments any longer, the payment percentages that are applied to calculate your Final Claim Amount were calculated assuming that all of the unresolved claims will be rejected. This assumption is most beneficial to all other claimants: the disputing claimants will not share in the fixed Settlement Amount, which maximises the pay-out amounts for all other claimants within this overall budget of €1,308,500,000. Therefore, these unresolved claims will not impact your Final Claim Amount or final instalment, if any.

These pending disputes related to Provisional Claim Amounts can continue to run their course after all other claimants have received their final instalments. If a disputing claimant then wins his dispute, he will be paid in accordance with the final decision rendered by Computershare or the Dispute Committee and will benefit from the same treatment as the other claimants. Ageas has agreed to bear the extra cost.

I heard that many claimants will not receive a final instalment or only a very small final instalment. How is that possible?

Final instalments are the outcome of allocating a fixed budget of €1,308,500,000 among more than 279,000 accepted claims in accordance with the Settlement Distribution Plan as approved by the Amsterdam Court of Appeal.

From the outset the Determination of acceptance letters sent by Computershare (the Claims Administrator) indicated that a claimant’s Provisional Claim Amount was not necessarily a representation of such claimant’s Final Claim Amount and was subject to potential dilution. The letters also stated that once all claims have been processed and all disputes have been resolved, claimants may be entitled to a final instalment.

It turns out that significantly more claims were filed than expected and that compensation has been claimed (and accepted) for more Fortis Shares than expected in the Holder Shares and Compensation Add-On buckets. The resulting dilution in the Holder Shares and Compensation Add-On buckets means that for most claimants their Final Claim Amount will be lower than their Provisional Claim Amount; in many cases the Final Claim Amount will also be less than the instalment(s) the claimant already received.

Claimants will only receive a final instalment if their Final Claim Amount is greater than the instalment(s) they already received. Claimants who will not receive a final instalment or only a very small final instalment typically are non-Active Claimants whose compensation is primarily or exclusively composed of Compensation Add-On and/or Holder Shares compensation. However, these claimants often benefitted from the 70% guarantee given by Ageas to “early filers”. That means that as early filers they may keep any overpayment or difference if their Final Claim Amount is lower than the 70% of their Provisional Claim Amount they received as a first instalment.

My claim has been rejected. Is there anything I can do?

If Computershare (the Claims Administrator) rejected your claim, Computershare’s Determination of rejection afforded you the opportunity to submit a Notice of Disagreement to Computershare within 20 calendar days from the date of such Determination. If you did not submit a timely Notice of Disagreement within this time frame, the Determination of the Claims Administrator to reject your claim is binding and final and you have no further recourse. That means you are not entitled to any compensation under the settlement.

Can I dispute the determination of my Final Claim Amount?

Simply put, your Final Claim Amount results from applying the payment percentages for the four compensation buckets to each corresponding component of your Provisional Claim Amount. These four payment percentages are the outcome of applying the Settlement Distribution Plan (which was approved by the Amsterdam Court of Appeal) to all valid claims. In addition, please note that at this stage of the administration of the settlement, your Provisional Claim Amount has become final and binding. This means that you can no longer dispute your Provisional Claim Amount on which your Final Claim Amount is based.

We therefore trust that claimants will not disagree with the calculations of their Final Claim Amounts. Given the fixed Settlement Amount of €1,308,500,000, such disputes could delay the payment of final instalments to all other claimants. If some claimants succeed in obtaining more than was calculated, new calculations have to be made for all other claimants, who will receive less.

If you nevertheless disagree with your Final Claim Amount, you may submit a Notice of Disagreement to Computershare (the Claims Administrator) within thirty (30) calendar days after the date on which the Final Determination was sent. Note that the object of your disagreement must exclusively relate to the determination of your Final Claim Amount pursuant to Paragraph 5 of the Settlement Distribution Plan and that it may not re-open the earlier determination of your Provisional Claim Amount. Please see sections 4.9/1 to 4.9/9 of the regulations of the Dispute Committee for further details.

What can I do if I disagree with my Provisional Claim Amount on which my Final Claim Amount is based?

Any disagreement filed at this stage of the settlement administration may not re-open the earlier determination of your Provisional Claim Amount to the extent that such determination has already become binding pursuant to section 4.4 or 4.9 of the regulations of the Dispute Committee, or pursuant to a prior Binding Advice of the Dispute Committee.

Your Provisional Claim Amount has become final and binding and you have no further recourse regarding your Provisional Claim Amount. This means you can no longer dispute your Provisional Claim Amount on which your Final Claim Amount is based.

Are the costs for processing claims and making payments to claimants deducted from the Settlement Amount of €1,308,500,000?

No, the Settlement Amount of €1,308,500,000 is exclusively available for payments of compensation to claimants with an accepted claim. The costs for the execution of the settlement, including the costs made by Computershare for processing claims and making payments to claimants, are borne by Ageas over and above the settlement budget of €1,308,500,000.

My bank account to which my previous instalment was paid has changed. Is there anything I should do?

Please contact Computershare (the Claims Administrator) as soon as possible. Please provide Computershare with your name, address, claim ID and your new bank account details (IBAN, BIC/SWIFT code, name of the account holder and name of the bank). You can find the contact details for Computershare at https://www.forsettlement.com/page/contact and https://www.forsettlement.com/pdf/Contact_details_Computershare.pdf?v=2.2.

The claimant passed away since the last instalment was paid. Can any final instalment that the claimant was entitled to be paid to the heir(s)?

If you are an heir wishing to receive any final instalment due to a claimant who has passed away since the previous instalment, please contact Computershare (the Claims Administrator) in writing (by regular post or by email) as soon as possible. You will be required to submit supporting documentation showing you are entitled to receive the compensation as a result of the claimant’s passing. Please provide Computershare with a death certificate, will/certificate of inheritance and powers of attorney signed by the other heirs (if applicable). The inheritance documentation must show the heir or heirs to the estate of the deceased claimant. Details for the bank account (IBAN, BIC/SWIFT code, name of the account holder(s) and name of the bank) on which you wish to receive the final instalment must also be submitted. You can find the contact details for Computershare at https://www.forsettlement.com/page/contact and https://www.forsettlement.com/pdf/Contact_details_Computershare.pdf?v=2.2.

Why am I not entitled to a final instalment? Why is my final instalment zero?

As indicated in the letter accepting your claim, your Provisional Claim Amount was not necessarily a representation of your Final Claim Amount and was subject to potential dilution. The letter also stated that once all claims have been processed and all disputes have been resolved, you may be entitled to a final instalment. It turns out that significantly more claims were filed than expected and that compensation has been claimed (and accepted) for more Fortis Shares than expected in the Holder Shares and Compensation Add-On buckets.

Your final instalment is zero if your Final Claim Amount is equal to or less than the sum of the instalments you already received. Please refer to other questions in this FAQ for more details on how the payment percentages were calculated to determine your Final Claim Amount on the basis of your Provisional Claim Amount. You will find the detailed calculations in your individual case in your June 2022 Final Determination letter.

If your Final Claim Amount is less than what you already received as an “early filer”, you may keep the overpayment thanks to the 70% guarantee that Ageas gave to “early filers”. This ensured that claimants who filed their claim by 31 December 2018 at the latest receive a guaranteed minimum payment of 70% of their Provisional Claim Amount, regardless of their Final Claim Amount. As an “early filer”, you may keep the difference.

I am an “early filer” and I received a first instalment equal to 70% of my Provisional Claim Amount. It now turns out that my Final Claim Amount is lower than what I received as a first instalment. Do I have to repay the excess that I received?

No. If you are an “early filer” and filed your claim by 31 December 2018 at the latest, you received a guaranteed first instalment or Early Distribution Amount equal to 70% of your Provisional Claim Amount. If your Final Claim Amount is lower than what you already received, you may keep the difference or overpayment.

Ageas bears the risk of excess payments to “early filers”. To that effect it added the necessary funds to the Settlement Amount to ensure that claimants who filed their claim after 31 December 2018 (but at the latest on the Claim Submission Deadline of 28 July 2019) share in the Settlement Amount in the same proportion and receive their Final Claim Amount, regardless of the amounts already paid to “early filers”.

I am an “early filer” and I received a first instalment of 70% of my Provisional Claim Amount. I thought my final instalment was going to be 30% of my Provisional Claim Amount. It’s much less/it’s zero. How is that possible?

As indicated in the letter accepting your claim, your Provisional Claim Amount was not necessarily a representation of your Final Claim Amount and was subject to potential dilution. The letter also stated that once all claims have been processed and all disputes have been resolved, you may be entitled to a final instalment. In other words, there was no guarantee that in the end you would receive a final instalment or that your final instalment would equal the remaining 30% of your Provisional Claim Amount.

It turns out that significantly more claims were filed than expected and that compensation has been claimed (and accepted) for more Fortis Shares than expected in the Holder Shares and Compensation Add-On buckets. The resulting dilution in the Holder Shares and Compensation Add-On buckets means that for most claimants their Final Claim Amount is lower than their Provisional Claim Amount; in many cases the Final Claim Amount is also less than the instalment(s) the claimant already received. Therefore, many claimants receive only a very small final instalment or no final instalment at all.

Why should I be satisfied with my Final Claim Amount?

As noted in your acceptance letter, your Provisional Claim Amount was not necessarily a representation of your Final Claim Amount. The calculation of your Provisional Claim Amount assumed that we would receive claims with a total value that exactly matched the size of each bucket – this was most unlikely but it was the best way forward at the time and it was the approach required by the Settlement Agreement.

The letter also mentioned that your Provisional Claim Amount was subject to potential dilution or increase. Your Final Claim Amount and your final instalment, if any, depended on the total volume of all valid claims in each bucket. It turns out that compensation has been claimed (and accepted) for more Fortis Shares than expected in the Holder Shares and Compensation Add-On buckets, leading to dilution. Conversely, compensation has been claimed (and accepted) for fewer Fortis Shares than expected in the Cost Addition bucket, meaning that Active Claimants benefit from a 20% uplift to the Cost Addition component of their Provisional Claim Amount.

Note also that in declaring the settlement binding on 13 July 2018, the Amsterdam Court of Appeal believed that the compensation offered under the settlement is reasonable. It also means the Court believed that the Settlement Agreement and its Settlement Distribution Plan deliver a fair allocation of the total Settlement Amount of €1,308,500,000, taking into account the various types of shareholders (claimants with Buyer Shares and claimants with Holder Shares, Active Claimants and non-Active Claimants) and the different positions represented through holdings in different periods of time.

When will I receive my final instalment?

If you are still entitled to a final payment you will normally receive it on or about 25 August 2022. If there is any general delay to this timing, an information notice will be published on this website.

I heard that the overall impact of the dilution or increase/uplift in the four compensation buckets can be different from one claimant to the other. What does that mean?

The method for calculating the Final Claim Amount is the same for all claimants: applying the payment percentages for the four compensation buckets to each corresponding component of their respective Provisional Claim Amounts. The Buyer Shares bucket has a payment percentage of 100%, giving claimants 100% of the Buyer Shares component of their Provisional Claim Amount. On the other hand, there is dilution in the Holder Shares and Compensation Add-On buckets, giving claimants 77.48% of the Holder Shares component of their Provisional Claim Amount respectively 61.62% of the Compensation Add-On component of their Provisional Claim Amount. The Cost Addition bucket has a payment percentage of 120%, meaning that Active Claimants benefit from a 20% uplift to the Cost Addition component of their Provisional Claim Amount.

However, the overall impact of the dilution or increase/uplift in the four compensation buckets can be different from one claimant to the other. The outcome or blended recovery rate depends on (i) the composition of the claimant’s holdings of Fortis Shares, (ii) whether the claimant had Buyer Shares and/or Holder Shares, (iii) whether or not the claimant is an Active Claimant and (iv) whether or not the claimant is an “early filer” benefitting from the 70% guarantee.

In other words, the outcome can be different for you and say your neighbour depending on the composition of your respective Provisional Claim Amounts. Your respective Final Claim Amounts depend on the relative share of each of the four compensation components in your respective Provisional Claim Amounts, on whether or not you and your neighbour are Active Claimants and on whether or not you and your neighbour are “early filers”. Even if you and your neighbour have the same Provisional Claim Amount, it is very likely that your respective Final Claim Amounts and final instalments are different.

The following examples illustrate the overall impact of the four payment percentages on three different types of claimants. All claimants in the below examples are “early filers” who filed their claim by 31 December 2018 at the latest and who received a guaranteed first instalment of 70% of their Provisional Claim Amount.

In each case the compensation is calculated as follows in accordance with the Settlement Agreement:

Buyer 1 Shares: the number of Fortis Shares held on 7 November 2007 c.o.b. (close of business) minus the number of Fortis Shares held on 21 September 2007 o.o.b. (opening of business), if greater than zero.

Compensation per Buyer 1 Share: €0.47.

Buyer 2 Shares: the number of Fortis Shares held on 25 June 2008 c.o.b. minus the number of Fortis Shares held on 13 May 2008 o.o.b., if greater than zero.

Compensation per Buyer 2 Share: €1.07.

Buyer 3 Shares: the number of Fortis Shares held on 3 October 2008 c.o.b. minus the number of Fortis Shares held on 29 September 2008 o.o.b., if greater than zero.

Compensation per Buyer 3 Share: €0.31.

Holder 1 Shares: the lower of the number of Fortis Shares held on 7 November 2007 c.o.b. or on 21 September 2007 o.o.b.

Compensation per Holder 1 Share: €0.23.

Holder 2 Shares: the lower of the number of Fortis Shares held on 25 June 2008 c.o.b. or on 13 May 2008 o.o.b.

Compensation per Holder 2 Share: €0.51.

Holder 3 Shares: the lower of the number of Fortis Shares held on 3 October 2008 c.o.b. or on 29 September 2008 o.o.b.

Compensation per Holder 3 Share: €0.15.

Highest number: the highest number of Fortis Shares held at any time between the close of trading on 28 February 2007 and the close of trading on 14 October 2008.

Compensation Add-On: €0.50 per Fortis Share held, with a maximum of €950 per claimant, calculated on the basis of the highest number of Fortis Shares held by the claimant at any time between the close of trading on 28 February 2007 and the close of trading on 14 October 2008.

Cost Addition: for Active Claimants only, an additional amount equal to 25% of the compensation for Buyer 1 Shares, Buyer 2 Shares, Buyer 3 Shares, Holder 1 Shares, Holder 2 Shares and Holder 3 Shares.

Claimant 1:

Number of Fortis Shares on
21 September 2007 1,500
7 November 2007 2,500
13 May 2008 2,500
25 June 2008 2,500
29 September 2008 2,500
3 October 2008 2,500
Highest number 2,500
Active Claimant no

Provisional Claim Amount Payment percentage Final Claim Amount
Buyer 1 Shares 1,000 €470.00
Buyer 2 Shares 0 €0.00
Buyer 3 Shares 0 €0.00
€470.00 100% €470.00
Holder 1 Shares 1,500 €345.00
Holder 2 Shares 2,500 €1,275.00
Holder 3 Shares 2,500 €375.00
€1,995.00 77.48% €1,545.73
Compensation Add-On €950.00 61.62% €585.39
Cost Addition €0.00 120% €0.00
Total €3,415.00 €2,601.12
Instalments already paid - €2,390.50
Balance €210.62

Claimant 1 is a non-Active Claimant who had held 1,500 Fortis Shares for a long time, subscribed to the September-October 2007 capital increase of Fortis (Buyer Shares) and held these Fortis Shares throughout the rest of the period covered by the settlement (Holder Shares). Claimant 1 received a first instalment of €2,390.50 (70% of his Provisional Claim Amount). Claimant 1 receives a final instalment of €210.62.


Claimant 2:

Number of Fortis Shares on
21 September 2007 0
7 November 2007 0
13 May 2008 0
25 June 2008 50,000
29 September 2008 0
3 October 2008 0
Highest number 50,000
Active Claimant yes

Provisional Claim Amount Payment percentage Final Claim Amount
Buyer 1 Shares 0 €0.00
Buyer 2 Shares 50,000 €53,500.00
Buyer 3 Shares 0 €0.00
€53,500.00 100% €53,500.00
Holder 1 Shares 0 €0.00
Holder 2 Shares 0 €0.00
Holder 3 Shares 0 €0.00
€0.00 77.48% €0.00
Compensation Add-On €950.00 61.62% €585.39
Cost Addition €13,375.00 120% €16,050.00
Total €67,825.00 €70,135.39
Instalments already paid - €69,996.70
Balance €138.69

Claimant 2 is an Active Claimant who bought 50,000 Fortis Shares in Period 2 (Buyer 2 Shares) and sold these Fortis Shares between Period 2 and Period 3 (no Holder Shares). Claimant 2 received a first instalment of €47,477.50 (70% of his Provisional Claim Amount). In addition, in October 2020 he received a second instalment of €22,519.20 (see the homepage for further details on second instalments). In October 2020 it already was clear that in the end he would receive 100% of the Buyer Shares component of his Provisional Claim Amount and an uplift of nearly 20% to the Cost Addition component of his Provisional Claim Amount. In the end his Final Claim Amount is higher than his Provisional Claim Amount, because his compensation was almost entirely composed of Buyer Shares and Cost Addition. His final instalment of €138.69 is limited because he already received in October 2020 almost the entire increase of his Provisional Claim Amount as a second instalment.


Claimant 3:

Number of Fortis Shares on
21 September 2007 0
7 November 2007 0
13 May 2008 0
25 June 2008 0
29 September 2008 0
3 October 2008 0
Highest number 1,000
Active Claimant no

Provisional Claim Amount Payment percentage Final Claim Amount
Buyer 1 Shares 0 €0.00
Buyer 2 Shares 0 €0.00
Buyer 3 Shares 0 €0.00
€0.00 100% €0.00
Holder 1 Shares 0 €0.00
Holder 2 Shares 0 €0.00
Holder 3 Shares 0 €0.00
€0.00 77.48% €0.00
Compensation Add-On €500.00 61.62% €308.10
Cost Addition €0.00 120% €0.00
Total €500.00 €308.10
Instalments already paid - €350.00
Balance €0.00

Claimant 3 is a non-Active Claimant who only held 1,000 Fortis Shares outside the three reference periods (no Buyer Shares nor Holder Shares, only Compensation Add-On). Claimant 3 does not receive a final instalment, but may keep - thanks to the 70% guarantee for “early filers” - the overpayment of €41.90 (i.e. the excess of the instalment already received over his Final Claim Amount).

Can my Active Claimant group (ACG) or other claimant organisation who filed my claim on my behalf explain how my Final Claim Amount and final instalment were calculated?

If you did not your file your claim yourself but through an Active Claimant Group (ACG) such as FortisEffect, Deminor or SICAF/DRRT or through another organisation (such as ConsumentenClaim, Bank Delen, Van de Put & Co Banquiers privés/Privaatbankiers, Mr. Laurent Arnauts/Syndicat de défense des actionnaires de Fortis or Mr. Geert Lenssens/SQ Law), you can indeed contact the organisation who filed your claim for you. They have the data of your claim and the correspondence with Computershare.

VEB members, however, should not contact the VEB, as the VEB does not have the details of their claim. Members of the VEB should contact Computershare through the call centre or by email ([email protected]).

Why bother paying me a final instalment of only a couple of euros or cents?

In full compliance with the Settlement Agreement, payments of final instalments are made to all claimants who are still entitled to a final instalment, no matter how small the amount thereof. The guiding principles are equal treatment of all claimants and ensuring that all claimants share in the Settlement Amount in the same proportion. Consequently, there is no de minimis for final instalments and all claimants receive exactly what they are due under the Settlement Distribution Plan as approved by the Amsterdam Court of Appeal.

Why is it possible that the final instalment that I receive is not the same as the amount communicated in my Final Determination letter? Can I dispute this?

The Final Determination letter mentions that the amount that you will ultimately receive may differ slightly from the amount of the final instalment, if any, announced in such letter. Such minor difference could occur if other claimants succeed in disputing their Final Claim Amount. Since the total Settlement Amount is fixed, if some claimants succeed in obtaining more than was calculated, all other claimants will receive less. In that case your own Final Claim Amount and the amount of your final instalment, if any, would have to be adjusted. In such unlikely event, an information notice will be published on this website.

Should such an adjustment occur, the regulations of the Dispute Committee provide that you cannot dispute such difference (please see section 4.9/9 for further details).

What can I do if I cannot find the answer to my question in this FAQ?

You can call the call centre on weekdays from 9 a.m. until 6 p.m. CET (Belgium: 0800 26 83 2 or 0800 555 09 – the Netherlands: +31 30 25 25 359 – international: +32 2 557 59 00) or send an email to [email protected]. The call centre is closed on a limited number of UK public and bank holidays; you can find these closing dates further down in this FAQ.

OPENING HOURS AND CLOSING DATES OF THE CALL CENTRE IN 2022

The call centre can be reached by telephone Monday through Friday from 9 a.m. until 6 p.m. CET, except on the following UK public and bank holidays on which it is closed:

  • Monday 3 January 2022: New Year’s Day (substitute day)
  • Friday 15 April 2022: Good Friday
  • Monday 18 April 2022: Easter Monday
  • Monday 2 May 2022: Early May bank holiday
  • Thursday 2 June 2022: Spring bank holiday
  • Friday 3 June 2022: Platinum Jubilee bank holiday
  • Monday 29 August 2022: Summer bank holiday
  • Monday 26 December 2022: Boxing Day
  • Tuesday 27 December 2022: Christmas Day (substitute day).

The call centre will open at 10 a.m. CET (rather than at 9 a.m. CET) and close at 5 p.m. CET (rather than at 6 p.m. CET) on Friday 23 December 2022, Wednesday 28 December 2022, Thursday 29 December 2022 and Friday 30 December 2022.

OPENING HOURS AND CLOSING DATES OF THE CALL CENTRE IN 2023

The call centre can be reached by telephone Monday through Friday from 9 a.m. until 6 p.m. CET, except on the following UK public and bank holidays on which it is closed:

  • Monday 2 January 2023: New Year’s Day (substitute day)
  • Friday 7 April 2023: Good Friday
  • Monday 10 April 2023: Easter Monday
  • Monday 1 May 2023: Early May bank holiday
  • Monday 8 May 2023: Bank holiday for the coronation of King Charles III
  • Monday 29 May 2023: Spring bank holiday
  • Monday 28 August 2023: Summer bank holiday
  • Monday 25 December 2023: Christmas day
  • Tuesday 26 December 2023: Boxing day

QUESTIONS WITH REGARD TO THE OCTOBER 2020 PAYMENT BATCH AND SUBSEQUENT PAYMENT BATCHES

Why did I not receive a first or a second payment in October 2020?

You probably read in the press or heard from other former Fortis shareholders that we made a second wave of payments in October 2020, and you wonder why you did not receive one.

  • You filed your claim in 2019. In that case, you should have received from us a payment in October 2020 but this was your first payment, not a second payment. The only claimants who were entitled to receive an early distribution before then, and who may thus have received a second instalment in October 2020, are those who filed their claim in 2018.
  • Your payment would have been less than €50. No payment below €50 was made in October 2020. You need not worry, this money is not lost, it will be paid to you later, together with your final instalment (when will that be?).
  • Your second payment would have been zero. The exact amount to which you will be entitled (your “Final Claim Amount”) depends on the total volume of claims submitted by all claimants together. This is because the total Settlement Amount payable by Ageas is fixed, at €1,308,500,000, and it must be shared between all claimants. In October 2020 Computershare calculated the minimum estimate of your Final Claim Amount (how?). If this estimate was less than the first instalment that you already received before then, then the amount of your second payment was zero. You may still be entitled to one final payment (when will that be?).

I received one or two payments already. Is that all?

You may still receive one final instalment. Please refer to your June 2022 Final Determination letter for the detailed calculations of your Final Claim Amount and the amount of your final instalment, if any.

When will I receive another payment?

If you are still entitled to a final payment you will receive it on or about 25 August 2022.

QUESTIONS WITH REGARD TO PAYMENTS TO “EARLY FILERS” (I.E. CLAIMANTS WHO HAVE SUBMITTED A VALID AND APPROVED CLAIM FORM ON OR BEFORE 31 DECEMBER 2018)

I filed my Claim Form on or before 31 December 2018. When will I get paid?

Given the huge volume of claims received, Computershare (the Claims Administrator) cannot process all claims at the same time. That also means that payments to “early filers” take place in various batches: there is a payment batch scheduled at the end of December 2018 and another payment batch to early filers is scheduled before the end of the first quarter of 2019. Unfortunately, it is not possible to give general guidance as to when you will receive your early distribution, as that depends on many factors (such as when you submitted your Claim Form, the complexity of your file, whether you submitted your Claim Form directly or whether an organisation or a lawyer submitted it for you along with other claims, etc.). However, be assured that if your claim has been accepted for early distribution of 70% of your compensation, you (or the person who filed a Claim Form on your behalf) will receive a written communication from Computershare. If on the other hand Computershare needs additional information or documents to process your claim, you (or the person who filed a Claim Form on your behalf) will receive a written communication from Computershare giving you the opportunity to provide the missing information or documents before Computershare decides whether to accept or reject your claim.

I know someone who has received early distribution of 70% of his/her compensation. How come I have not yet been paid?

Each claim is unique, and your circumstances may be different than your acquaintance’s, just like some claims just take more time to process and review than others. In addition, claims processing and payments happen in batches, which means that some early filers will hear from Computershare before others and get paid before others. Processing a huge volume of claims is a massive project that moreover requires Computershare’s utmost care and precision, so claimants’ patience and understanding is appreciated. If and when your claim has been accepted for early distribution, you (or the person who filed a Claim Form on your behalf) will receive a written communication from Computershare. If on the other hand Computershare needs additional information or documents to process your claim, you (or the person who filed a Claim Form on your behalf) will receive a written communication from Computershare giving you the opportunity to provide the missing information or documents before Computershare decides whether to accept or reject your claim.

I know someone who has received early distribution of 70% of his/her compensation and I have not even yet received an acknowledgement of receipt of my Claim Form. How is that possible?

Claims processing and payments happen in batches. If you did not file your Claim Form online but sent it by regular post, it can take considerable time before your claim is uploaded in the Computershare systems and Computershare sends you an email or a letter confirming receipt of your Claim Form. You may want to contact the call centre if you have not yet received an acknowledgement of receipt: the call centre agents should be able to tell you if your claim has already been uploaded in the systems. Be assured that you remain eligible for early distribution if you file a valid (and ultimately) approved Claim Form, along with all necessary supporting evidence, with the Claims Administrator no later than on Monday 31 December 2018 (or if it bears the postmark of that date at the latest).

I received an email or a letter confirming receipt of my Claim Form and mentioning my Claim ID. Does this mean that everything is in order and that it is just a matter of time before getting paid?

An acknowledgement of receipt just means that your claim has been uploaded in the Computershare systems, so it does not necessarily mean that everything is in order. It may take quite a while before you (or the person who filed a Claim Form on your behalf) hear from Computershare whether it accepts your claim or whether Computershare needs additional information or documents to process your claim (in that case you will be given the opportunity to provide the missing information or documents before Computershare decides whether to accept or reject your claim).

Am I eligible for early distribution if I have not yet heard from Computershare?

You are eligible for early distribution of 70% of your compensation if you file a valid (and ultimately) approved) Claim Form, along with all necessary supporting evidence, with the Claims Administrator no later than on Monday 31 December 2018 (or if it bears the postmark of that date at the latest), regardless of when you hear from Computershare.

I heard the first payments have been made. Does this mean I can no longer submit my claim?

There is no need to worry: you can still file a Claim Form until Sunday 28 July 2019 (meaning that your Claim Form must be received by the Claims Administrator no later than on Sunday 28 July 2019 or bear the postmark of that date at the latest).

QUESTIONS WITH REGARD TO CLAIMS FILING

How much time do I have to submit a claim?

The Claim Form must be received by the Claims Administrator no later than on Sunday 28 July 2019 or bear the postmark of that date.

Where can I get a Claim Form?

The Claim Form is made available as follows:

  • you can file a Claim Form through the online claim filing portal of this website at https://claim.forsettlement.com/EN;
  • you can download a Claim Form from this website at https://www.forsettlement.com/page/documents and then send it by regular post to the Claims Administrator;
  • you can obtain a Claim Form by regular post or email by calling the call centre (available on weekdays from 9 a.m. until 6 p.m. CET on the following numbers: Belgium: 0800 26 83 2 or 0800 555 09 – the Netherlands: +31 30 25 25 359 – international: +32 2 557 59 00) or emailing the Claims Administrator at [email protected];
  • at the end of August or early September 2018 known Eligible Shareholders in Belgium and the Netherlands will receive a Claim Form by post.

How can I file a Claim Form?

You can file a Claim Form as follows:

  • through the online claim filing portal of this website at https://claim.forsettlement.com/EN. At the end you will receive a transmittal letter with the unique identifier (“Claim ID”) tied to your Claim Form;
  • by sending your Claim Form by regular post to one of the postal addresses of the Claims Administrator in the Netherlands or Belgium. As soon as your claim has been uploaded in the Computershare systems (note that this may take some time), Computershare (the Claims Administrator) will send you an email or a letter confirming receipt of your Claim Form and mentioning the unique identifier (“Claim ID”) tied to your Claim Form:

    Computershare Investor Services plc
    Fortis settlement Claims Administrator
    P.O. Box 7148
    3109 AC Schiedam
    The Netherlands

    or

    Computershare Investor Services plc
    Fortis settlement Claims Administrator
    P.O. Box 304
    2800 Mechelen
    Belgium.

Should I send my Claim Form by registered letter to one of the post office boxes of the Claims Administrator?

No, registered letters cannot be received at the post office boxes. Please send your Claim Form by regular post: other than the Claim Form itself, you do not need to send original documents, copies will suffice. Please do keep a copy of your filed Claim Form and all supporting documents for your records.

Can I send my Claim Form by email?

No, you can only send a paper Claim Form by regular post to Computershare (the Claims Administrator). However, you can file a Claim Form online through the online claim filing portal of this website available at https://claim.forsettlement.com/EN.

Do I need to use the template Claim Form?

Yes, in order to be eligible for compensation you must use the template Claim Form available at https://www.forsettlement.com/page/documents or https://claim.forsettlement.com/EN.

What is a “holding statement”?

A holding statement is a statement the format of which was agreed between Stichting FORsettlement, Computershare (the Claims Administrator) and certain banks and other financial institutions. It shows the number of Fortis Shares held in a certain securities account on 21 September 2007 (opening of trading), 7 November 2007 (close of trading), 13 May 2008 (opening of trading), 25 June 2008 (close of trading), 29 September 2008 (opening of trading) and 3 October 2008 (close of trading), as well as the highest number of Fortis Shares held in such securities account between 28 February 2007 (close of trading) and 14 October 2008 (close of trading).

I heard that certain banks will provide Eligible Shareholders with a holding statement. Which are those banks and when can I expect this?

This is indeed correct. We have been informed that the following banks intend to send a holding statement:

Name of bank or financial institution Sent proactively (*) Sent upon request Date of sending/availability
Belgian Institutions
Belfius X By the end of July 2018
KBC Bank X By the end of July 2018
Lawaisse X By the end of July 2018
ING X By the end of July 2018
Record Bank X By the end of July 2018
CA Indosuez Wealth (Europe) X Available as from 16 July 2018
Dierickx Leys Private Bank X By the end of July 2018
BNP Paribas Fortis X By the end of July 2018
Edmond de Rothschild Europe X By the end of July 2018
Beobank X Available as from 16 July 2018
Puilaetco Dewaay X By the end of July 2018
CapitalatWork Foyer Group X By the end of July 2018
AXA Bank Belgium X Asap after 13 July 2018 and at the latest end of August 2018
Crelan X No information available
Keytrade X Mid September 2018
KBC Securities X By the end of July 2018
VAN DE PUT & CO Banquiers Privés | Privaatbankiers X ASAP
Delen Private Bank X By the end of July 2018
Delande & Cie X By the end of July 2018
Degroof Petercam X By the end of July 2018
Leo Stevens & Cie X Already sent out
Dutch Institutions
ABN AMRO X As from 6 August 2018
ING X Week of 20 August 2018
Rabobank X Week of 20 August 2018
BinckBank / Alex X Week of 20 August 2018
Van Lanschot X Week of 20 August 2018
Luxembourg Institutions
BGL BNP Paribas X As from 6 August 2018
*: holding statements will only be sent to Eligible Shareholders still having a securities account with the relevant institution

I held my Fortis Shares in a securities account with one of the above-mentioned banks but I have not received a holding statement. Why is this?

  • First of all, it might take some time for your bank to send your holding statement. Please see the table above for indicative timing.
  • Secondly, these banks will only send holding statements to persons who are still a customer and of whom the personal details or legal situation have not changed over time. Therefore, if you no longer are a customer of the bank where you had a securities account in 2007-2008 or if your personal details or the legal situation of the Eligible Shareholder (e.g. divorce, death) have changed over time, you might have to specifically request your (former) bank to provide you with such holding statement. Please be aware that the bank may charge you costs in this respect and that it may take some time for the bank to generate such holding statement.

What should I do if I believe the holding statement that I received from my bank is incorrect?

In that case you should contact your bank directly. There is nothing that Stichting FORsettlement, Ageas or Computershare (the Claims Administrator) can do.

What should I do if my (former) bank is not mentioned on the above-mentioned list?

In such a case we advise you to contact your (former) bank. Please be aware that the bank may charge you costs to provide you with a holding statement and that it may take some time for the bank to generate such holding statement. Some banks may no longer have the information available.

What should I do if I held my Fortis Shares in a securities account but my (former) bank is not able to provide me with a holding statement?

In such a case you should provide the Claims Administrator with as many documents as possible showing your continuing ownership of Fortis Shares over a period of time before and after the dates set out in the Settlement Agreement. Such documents could be for example, bank statements relating to your securities account, receipts showing you received dividend payments, proof of purchase or sale (borderel/bordereau), proof of subscription to the September-October 2007 capital increase, etc. As with any documents submitted as evidence, it will be up to the Claims Administrator to determine whether such documents constitute acceptable proof of the number of Fortis Shares held on 21 September 2007 (opening of trading), 7 November 2007 (close of trading), 13 May 2008 (opening of trading), 25 June 2008 (close of trading), 29 September 2008 (opening of trading) and 3 October 2008 (close of trading) and of the highest number of Fortis Shares held between 28 February 2007 (close of trading) and 14 October 2008 (close of trading) and for what (types of) compensation you are eligible.

I did not hold my Fortis Shares in a securities account with a bank but they were registered in the Fortis/Ageas shareholders’ register. The Claim Form requests proof of my shareholding. How can I obtain this?

Ageas will provide holders of such Fortis Shares (including (former) Fortis employees) by regular post with a statement showing the number of Fortis Shares they held on 21 September 2007 (opening of trading), 7 November 2007 (close of trading), 13 May 2008 (opening of trading), 25 June 2008 (close of trading), 29 September 2008 (opening of trading) and 3 October 2008 (close of trading), as well as the highest number of Fortis Shares held between 28 February 2007 (close of trading) and 14 October 2008 (close of trading). If you have any questions in relation to the statement you received or have not received your statement, you can contact Ageas at [email protected]. If you need to inform Ageas of a change of address, please send an email to [email protected].

What should I do if I believe the statement that I received from Ageas is incorrect?

In that case you should contact Ageas at [email protected].

What should I do if my Fortis Shares were held in various securities accounts (with one or more banks) or if in addition to holding Fortis Shares in a securities account with a bank I also had Fortis Shares registered in the Fortis/Ageas shareholders’ register?

You can file one single Claim Form and add various statements you received, even if you received them from different sources. Filing various Claim Forms for multiple accounts is acceptable too, provided it is clear from the claimant identification information that these all relate to the same claimant.

I’m a (former) employee of Fortis and I was a beneficiary of an employee share plan. Am I eligible for compensation?

You are eligible for compensation if you participated in one or more of the 2002, 2003 or 2004 employee share plans and fully owned the Fortis Shares at any time between 28 February 2007 and 14 October 2008.

What happens if something changed in the legal or personal situation of the Eligible Shareholder since 2007-2008?

You will have to prove the chain of events between the shareholding period and the date of claim filing and the link between the Eligible Shareholder/Fortis Shares and the filing claimant. For instance, in case the Eligible Shareholder is deceased, the filing claimant will have to prove his/her inheritance of the Fortis Shares by adding, for instance, a copy of the notarial deed relating to the distribution of the inheritance.

I already sent my Claim Form to Computershare but want to file additional documents. What should I do?

You can send additional documents, such as corrective or additional holding statements, to the Claims Administrator by regular post (to one of the Computershare post office boxes) or by email ([email protected]). Please mention the unique identifier (“Claim ID”) tied to your Claim Form. If you have not yet received a Claim ID, please mention your name and full address. If you initially filed your Claim Form online please add if possible a copy of the transmittal letter that was generated at the end of your online submission. Please be aware that Claim Forms as such must be filed by sending them by regular post (to one of the postal addresses of Computershare) or by filing through the online claim filing portal of this website at https://claim.forsettlement.com/EN. Claim Forms filed by email will not be accepted.

The Claim Form requires me to fill in an account number/fund number. What is this number and how is it different from the requested IBAN number/payment account number?

The account number/fund number is the number associated with the securities account in which you held your Fortis Shares. The IBAN number/payment account number is the account on which you wish to receive your compensation.

How can I prove my Fortis shareholding if I held bearer (paper/printed) shares (rather than dematerialised shares in a securities account with a bank)?

In such a case, you should provide the Claims Administrator with as many documents as possible showing your continuing ownership of Fortis Shares over a period of time before and after the dates set out in the Settlement Agreement. Such documents could be, for example, receipts showing you cashed dividend coupons, blocking certificates proving you deposited your bearer shares at a bank allowing you to take part in and vote at general shareholders’ meetings of Fortis, proof that you converted your bearer shares into dematerialised shares by depositing them in a securities account, proof of purchase or sale (borderel/bordereau), proof of subscription to the September-October 2007 capital increase, etc. As with any documents submitted as evidence, it will be up to the Claims Administrator to determine whether such documents constitute acceptable proof of the number of Fortis Shares held on 21 September 2007 (opening of trading), 7 November 2007 (close of trading), 13 May 2008 (opening of trading), 25 June 2008 (close of trading), 29 September 2008 (opening of trading) and 3 October 2008 (close of trading) and of the highest number of Fortis Shares held between 28 February 2007 (close of trading) and 14 October 2008 (close of trading) and for what (types of) compensation you are eligible.

How can I ensure that I am eligible for early distribution of 70% of my compensation?

You are eligible for early distribution of 70% of your compensation if you file a valid and approved Claim Form, along with all necessary supporting evidence, with the Claims Administrator no later than on Monday 31 December 2018 (or if it bears the postmark of that date).

I have submitted a Claim Form. When will I receive payment?

It is not possible to give general guidance on this. Computershare (the Claims Administrator) will send you a communication in due course advising you on the status of your claim.

I am a member of one of the claimant organisations involved. Should they submit my claim or should I do this myself?

Please contact your claimant organisation for more information in this respect.

Who is the Claims Administrator and what does it do?

Stichting FORsettlement appointed Computershare Investor Services plc as independent Claims Administrator. The Claims Administrator’s main tasks are to make an independent assessment of whether or not someone who files a Claim Form is entitled to compensation under the settlement and to pay, on behalf of Ageas, compensation to Eligible Shareholders who filed a Claim Form for a valid claim.

I don’t want to participate in the Fortis settlement. How can I send an Opt-Out Notice?

There are various ways of obtaining a template for an Opt-Out Notice:

  • you can download an Opt-Out Notice from this website at https://www.forsettlement.com/page/documents and then send it by regular post to the Claims Administrator or send it by email to the Claims Administrator at [email protected];
  • you can obtain an Opt-Out Notice by regular post or email by calling the call centre (available on weekdays from 9 a.m. until 6 p.m. CET on the following numbers: Belgium: 0800 26 83 2 or 0800 555 09 – the Netherlands: +31 30 25 25 359 – international: +32 2 557 59 00) or emailing the Claims Administrator at [email protected].

This Opt-Out Notice must be delivered to the Claims Administrator no later than on Monday 31 December 2018.

Do I need to use the template Opt-Out Notice provided on this website or by the Claims Administrator?

No, you do not need to use the template. However, it is recommended that you use this template if you want to opt out of the settlement.

What happens if I don’t file a Claim Form or if I am late in filing my Claim Form?

If your Claim Form is not received by the Claims Administrator at the latest on Sunday 28 July 2019 (or does not bear the postmark of that date) and your Opt-Out Notice is not delivered to the Claims Administrator no later than on Monday 31 December 2018:

  • you will not be entitled to receive any compensation under the settlement;
  • you will automatically be deemed to fully discharge the Releasees from all liability relating to the Events; and
  • you will be deemed to have waived your rights to claim damages from the Releasees.

What can I do when I cannot find my question in this FAQ?

You can call the call centre on weekdays from 9 a.m. until 6 p.m. CET (Belgium: 0800 26 83 2 or 0800 555 09 – the Netherlands: +31 30 25 25 359 – international: +32 2 557 59 00) or send an email to [email protected].

What are the opening hours of the call centre and on what days is it closed?

The call centre can be reached by telephone Monday through Friday from 9 a.m. until 6 p.m. CET, except on the following UK public and bank holidays:

Monday 27 August 2018 Summer bank holiday
Tuesday 25 December 2018 Christmas Day
Wednesday 26 December 2018 Boxing Day
Tuesday 1 January 2019 New Year’s Day
Friday 19 April 2019 Good Friday
Monday 22 April 2019 Easter Monday
Monday 6 May 2019 Early May bank holiday
Monday 27 May 2019 Spring bank holiday
Monday 26 August 2019 Summer bank holiday
Wednesday 25 December 2019 Christmas Day
Thursday 26 December 2019 Boxing Day

QUESTIONS WITH REGARD TO THE BINDING DECLARATION

What does it mean that the Amsterdam Court of Appeal declared the settlement binding on 13 July 2018?

This means that under the Dutch Act on Collective Settlement of Mass Claims (Wet Collectieve Afwikkeling Massaschade or “WCAM”) the Fortis settlement becomes binding for all beneficiaries of the settlement, i.e. for all Eligible Shareholders. In declaring the settlement binding, the Court believed that the compensation offered under the settlement is reasonable and that the claimant organisations Deminor, SICAF and FortisEffect are sufficiently representative of the interests of the beneficiaries of the settlement.
It further means that all Eligible Shareholders who did not timely opt out (i.e. at the latest on Monday 31 December 2018), regardless of whether or not they timely filed a Claim Form, are, by operation of law, deemed to have released each Releasee in relation to the Events and to have waived any rights in connection thereto.

I am a member of the VEB. Does this decision change anything for me?

No, nothing changes. The Court declared the settlement binding without any amendments. This means that if you submit a valid Claim Form with all supporting evidence, you will be eligible for compensation. If you also submit proof regarding your Active Claimant status, you will be eligible for a Cost Addition of 25%.

What is the Binding Declaration Notice?

The Binding Declaration Notice is an important document of which the content is approved by the Court. The notice provides information regarding: (i) the content of the Settlement Agreement, (ii) the consequences of the binding declaration, (iii) the eligibility for compensation and (iv) the possibility to opt out.

Where can I get a copy of the Binding Declaration Notice?

The Binding Declaration Notice is available in various ways, including:

  • sent (by regular post, registered letter, bailiff notification or e-mail, as the case may be) to all known Eligible Shareholders;
  • published in a wide range of newspapers in multiple countries; and
  • published on this website (under https://www.forsettlement.com/page/documents) as well as on the website of the parties.

I heard Ageas can still terminate the settlement. Is that true?

Yes, Ageas will have the right (but not the obligation) to terminate the settlement if the Opt-Out Amount (which is the sum of the compensation amounts to which Eligible Shareholders who timely delivered an Opt-Out Notice would be entitled if they did not deliver such Opt-Out Notice) exceeds 5% of the Settlement Amount of EUR 1.3 billion. The Claims Administrator has up to six weeks after 31 December 2018 to calculate the Opt-Out Amount. If it turns out that the Opt-Out Amount exceeds 5% of the Settlement Amount, Ageas has a further two weeks thereafter to decide whether or not it terminates the settlement.

What can I do when I cannot find my question in this FAQ?

You can call the call centre on weekdays from 9 a.m. until 6 p.m. CET (Belgium: 0800 26 83 2 or 0800 555 09 – the Netherlands: +31 30 25 25 359 – international: +32 2 557 59 00) or send an email to [email protected].

What are the opening hours of the call centre and on what days is it closed?

The call centre can be reached by telephone Monday through Friday from 9 a.m. until 6 p.m. CET, except on the following UK public and bank holidays:

Monday 27 August 2018 Summer bank holiday
Tuesday 25 December 2018 Christmas Day
Wednesday 26 December 2018 Boxing Day
Tuesday 1 January 2019 New Year’s Day
Friday 19 April 2019 Good Friday
Monday 22 April 2019 Easter Monday
Monday 6 May 2019 Early May bank holiday
Monday 27 May 2019 Spring bank holiday
Monday 26 August 2019 Summer bank holiday
Wednesday 25 December 2019 Christmas Day
Thursday 26 December 2019 Boxing Day

QUESTIONS ABOUT THE SECOND AMENDED AND RESTATED SETTLEMENT AGREEMENT

Why did the parties enter into the Second Amended and Restated Settlement Agreement on 13 April 2018?

At the hearing of 27 March 2018, the Court asked for clarification about early distributions. As a result, the parties entered into the Second Amended and Restated Settlement Agreement on 13 April 2018 to clarify that Ageas bears the risk of excess payments to “early filers”. Early filers are Eligible Shareholders who file a valid and approved claim form on or before the end of the opt-out period and as a result will receive an early distribution of 70% of the Provisional Claim Amount. On the one hand, such early filers do not have an obligation to pay back the difference to Ageas if their Final Claim Amount is lower than their Early Distribution Amount. On the other hand, Eligible Shareholders who file a valid and approved claim form after the end of the opt-out period (but at the latest on the Claim Submission Deadline) will always receive their Final Claim Amount, regardless of the amounts already paid to early filers.

QUESTIONS ABOUT THE RESTATED AND AMENDED SETTLEMENT AGREEMENT

I am an eligible shareholder. What should I do?

At this time no action on your behalf is required. Further communication will follow once the court issues a binding declaration. In the meantime, you can however already get a first estimation of the amount that would be attributed to you under the amended and restated settlement agreement via the new calculator, available on this website.

What is the expected timing of the binding declaration?

The first step was submitting the amended and restated settlement agreement to the Amsterdam Court of Appeal. This has been done 12 December 2017. In the next coming 6 weeks, the opposing parties will have the opportunity to submit their defense. Afterwards, an oral hearing will be scheduled after which the Court has to decide whether it declares the amended and restated settlement agreement binding.

Are you certain that the Court will declare the amended settlement binding this time?

We have good hopes that this time the Court will judge that this amended and restated settlement agreement is reasonable. It is supported by the most important claimant organisations in Belgium and the Netherlands. Moreover, one of the opposing parties at the March 2017 hearing, the Dutch consumer organisation ConsumentenClaim, has, based on the proposed amendments, decided to submit the amended and restated settlement agreement with a positive recommendation to its constituents.

What are the amounts to which I’m entitled?

The below table gives an overview of the compensation amounts. Please note that these amounts are only indicative since they are still subject to dilution and increase. For more information on dilution and increase we refer to the calculator. Moreover, please keep in mind that the proposed settlement has not yet been declared binding by the Court and that Ageas has a termination right at the end of the opt-out period if the pay-out amount for the number of Fortis Shares opting out exceeds 5 % of the total settlement amount.

  Period 1 Period 2 Period 3
Compensation for Buyers (per share) EUR 0.47 EUR 1.07 EUR 0.31
Compensation for Holders (per share) EUR 0.23 EUR 0.51 EUR 0.15
Compensation Add-On EUR 0.5 per share with a max. of EUR 950
Cost Addition for Active Claimants 25% of the compensation for Buyers and Holders

What are the reference periods?

The reference periods have not changed in comparison with the previous agreement. They are still as follows:
- Period 1 from 21 September 2007 o.o.b. until 7 November 2007 c.o.b.
- Period 2 from 13 May 2008 o.o.b. until 25 June 2008 c.o.b.
- Period 3 from 29 September 2008 o.o.b. until 3 October 2008 c.o.b.

What does C.O.B. and O.O.B mean?

C.O.B. means Closing of Business and O.O.B. means Opening of Business.

What is a “Buyer” of Fortis Shares?

A Buyer is an Eligible Shareholder who bought Fortis Shares during one of the reference periods and who held these at the end of that reference period.

What is a “Holder” of Fortis Shares?

A Holder is an Eligible Shareholder who bought Fortis Shares outside one of the reference periods and still held these at the end of one of the reference periods.

What is a Fortis Share?

A Fortis Share means a unit issued by Fortis N.V. and Fortis SA/NV, each unit comprised of one ordinary share in the capital of Fortis N.V. twinned with one ordinary share in the capital of Fortis SA/NV, listed at the stock exchange of Amsterdam, Brussels and Luxembourg, including (i) such units purchased or acquired otherwise, provided the economic risk has transferred to the purchaser or the acquirer on such date (the "trade date "), but which have not yet been transferred into the account of the purchaser or acquiror on the trade date, and excluding (ii) such units sold or disposed of otherwise, provided the economic risk has transferred to the person such units are sold to or to whom they have been disposed of otherwise on such date (the "trade date "), but which have not yet been transferred from the account of the seller or otherwise disposing holder of such units.

What does the termination right of Ageas entail and when can it be exercised?

Ageas has the right to terminate the amended and restated settlement agreement in case the opt-out amount exceeds 5% of the settlement amount. It can be exercised within 8 weeks after the end of the opt out period.

How will I be able to receive compensation?

Eligible Shareholders will need to submit a claim form with the claims administrator within 366 Days after the Binding Declaration Notice Date.

When will I receive the claim form?

A downloadable version of the claim form will be made available on this website as soon as the court declares the restated and amended settlement binding.

Who is the claims administrator and how can they be contacted?

The claims administrator is Computershare Investor Services PLC ("Computershare"). As soon as the claims filing period starts (to be expected end of summer 2018), all contact details of Computershare will be shared on this website.

What is the opt-out period and how long does it last?

The opt-out period is the period during which claimants can decide to file an opt-out notice, stating that they don’t wish to be bound by the amended and restated settlement agreement. This period will last either 3 or 6 months, depending on the court’s decision.

What is an “early filer”?

Any Eligible Shareholder who filed a valid and approved claim form with the claims administrator on or before the end of the opt-out period. Such “early filer” will be entitled to an early payment of 70% (for more details, we refer to the amended and restated settlement agreement, published under the documents section).

What is an Eligible Shareholder?

An Eligible Shareholders is any person or legal entity who held Fortis Units at any time between 28 February 2007 close of business and 14 October 2008 close of business.

What is an Excluded Person?

Excluded Persons are not entitled to a compensation out of the settlement amount. An Excluded person is any person currently named as a defendant in one or more of the legal proceedings as set out in Recital (D) of the amended and restated settlement agreement pending at the moment of execution of this agreement, but, in respect of the Underwriting Banks which are such a defendant, i.e. Merrill Lynch International, BNP Paribas Fortis SA/NV, ING Bank N.V., Coöperatieve Raiffeisen-Boerenleenbank B.A. and Fox-Pitt, Kelton Ltd., only for any Fortis Shares which such Underwriting Bank held at its own risk and expense.

What is an Active Claimant?

An Active Claimant is any Eligible Shareholder who took an affirmative step to make a claim against Ageas in relation to the Events by participating in a Belgian or Dutch court action before 24 March 2017 or by having registered or joined, before 31 December 2014, a Dutch or Belgian organisation, including the ACG, which has initiated a court action before 24 March 2017 (for more details, we refer to the amended and restated settlement agreement, published under the documents section).

Who are the claimant organisations (the “ACG”)?

The amended and restated settlement agreement is entered into by Ageas and the following claimant organisations: DRS Belgium CVBA (“Deminor”), Vereniging van Effectenbezitters (“VEB”), Stichting Investor Claims Against FORTIS (“SICAF”) or Stichting FortisEffect.

What can I do if I cannot find my question in this FAQ?

You can call the call centre on weekdays who will take note of your question (Belgium: 0800 26 83 2 – the Netherlands: +31 30 25 25 359 – international: +32 2 557 59 00) or send an email to [email protected].

 

Attention: Please note that the questions and answers below reflect the situation prior to 12 December 2017. For all questions with regard to the Restated and Amended Settlement Agreement, only the Q&A's mentioned above are relevant.

Questions about the request for extension of the filing period

The parties requested extension of the filing period to the Court. What will happen now?

The parties will continue the discussions and will work towards a reasonable and balanced solution for all stakeholders within the extended time period.

How much additional time has the Court granted?

The Court granted an extension of 8 weeks until 12 December 2017.

What do I need to do?

At this time no action on your behalf is required. Further communication will follow once a final agreement is reached.

What can I do if I cannot find my question in this FAQ?

You can call the call centre on weekdays who will take note of your question (Belgium: 0800 26 83 2 – the Netherlands: +31 30 25 25 359 – international: +32 2 557 59 00) or send an email to [email protected].

Questions about the interim decision of the Court of 16 June 2017

The Court requested some changes to the existing Fortis settlement. What will happen now?

The parties have been offered the opportunity to submit to the Court a supplemented and amended agreement by 17 October 2017 at the latest. The parties will now discuss this request. Further communication will follow in due course and will be made available on this website.

Now that the Fortis settlement was not declared binding, what do I need to do?

At this time no action on your behalf is required. Further communication will follow in due course and will be made available on this website.

What is the main concern of the Court?

The main concern of the Court relates to the distribution of the settlement amount of EUR 1.2 billion between Non-Active Claimants and Active Claimants and the related compensations for the claimant organisations.

What can I do if I cannot find my question in this FAQ?

You can call the call centre on weekdays who will take note of your question (Belgium: 0800 26 83 2 – the Netherlands: +31 30 252 53 59 – international: +32 2 557 59 00) or send an email to [email protected].


Attention: In its interim decision of 16 June 2017 the Court did not declare the settlement of 14 March 2016 binding in its current format and offered the parties the opportunity to submit an amended agreement to the Court. Please note that the questions and answers below reflect the situation prior to 16 June 2017. Under an amended agreement some of the answers to these questions will probably need to be adapted. If and when an amended agreement is entered into, further communication in this respect will be made available on this website.

Questions about the oral hearing of 24 March 2017

Why did an oral hearing take place?

The oral hearing of 24 March took place as part of the procedure to declare the settlement agreement of 14 March 2016, concluded between Ageas, Stichting FORsettlement and the claimants’ organisations, i.e. VEB, SICAF, FortisEffect and Deminor, binding in accordance with the Dutch Act on Collective Settlement of Mass Claims (“Wet Collectieve Afwikkeling Massaschade”, in short “WCAM”). This hearing allowed the Court of Appeal to hear and consider arguments in favor and potentially against the proposed settlement, before rendering a decision on its binding nature.

Was there any reaction from the Court of Appeal in favor of or against the proposed settlement?

There was no particular reaction from the Court of Appeal, aside from it asking a number of questions to the various speakers, which is common in this type of proceedings.

What were the main arguments Ageas raised during the oral hearing?

The main arguments Ageas raised during the oral hearing concerned the reasonableness of the compensation and the representativeness of the claimants’ organisations.

What was decided at the oral hearing?

Nothing was decided, however the Court of Appeal did indicate that its ruling would be rendered on Friday 16 June 2017 after 17:30.

What is the next step in the WCAM procedure?

The Court of Appeal will decide on the request to declare the settlement binding.

Did the Court of Appeal give any indication on timing?

The Court of Appeal indicated that its ruling would be rendered on Friday 16 June 2017 after 17:30.

Can I start filing a claim form?

Ageas will publish all relevant information with regard to claim filing in due time if the Court of Appeal declares the proposed settlement binding. At this point in time, no action by the Eligible Shareholders is required.

When will payouts start?

If the Court of Appeal declares the proposed settlement binding, an opt-out period of minimum 3 months will start. Only after this period has passed (and provided that Ageas does not terminate the settlement because the opt-out amount exceeds 5% of the settlement amount), distributions of partial payments can start. This means that partial payment, if any, can be expected at the earliest by the end of 2017.

Questions about what the settlement agreement dated 14 March 2016 means to Ageas

Ageas will pay out a very substantial amount. Does Ageas have sufficient means to make such an important payment?

End of June 2016, Ageas reported a net cash position of EUR 2.1 billion of which EUR 0.8 billion ring fenced in the context of the legal settlement. The remaining amount of around EUR 0.5 billion has in the meantime been transferred to two foundations, specifically created in the context of the legal settlement.

What’s the impact of this settlement on Ageas and its Fortis Unit?

We believe that this is a positive development for the company as the long-standing uncertainty will be lifted and Ageas will be able to regain its strategic and financial flexibility. It is always difficult to assess the impact of any news on the Ageas Fortis Unit but it is fair to say that the proposed settlement is in line with the amount that has been modelled by the specialized analysts. It is also important to note that the cash amount will be gradually released over a period of two to three years.

Questions about what the settlement agreement dated 14 March 2016 means to me as an Eligible shareholder

As a longstanding loyal shareholder, why should I be satisfied with this level of compensation?

EUR 1.2 billion is a substantial sum. We believe we have agreed a fair and reasonable settlement for those impacted by the Fortis events of 2007 and 2008. We hope that those who are eligible under this settlement will be satisfied with the outcome and that this will help everyone impacted to draw a line under what has been an uncertain and difficult period. The settlement agreement delivers a fair allocation of the total settlement amount taking into account the various types of shareholders and the different positions and characteristics represented through these holdings.
The calculation tool that has been made available since 23 May on the website enables every individual to make simulations for his personal situation.

How do I know if I’m eligible to participate? What does this settlement mean for me personally?

An “Eligible Shareholder” is any person who held Fortis Units at any time between 28 February 2007 c.o.b. and 14 October 2008 c.o.b. The eligible Fortis Units refer to the Fortis Units currently named Ageas (stock ticker “AGS”) and the number of eligible Fortis Units refers to the number of Fortis Units before the reverse stock split of 10:1, effected in 2012.
Eligible shareholders will have to waive all further rights to compensation in any form from any party related to the events that took place during the Relevant Period.
What it means for you depends on your own personal situation. Ageas and the claimants organizations are committed to open and transparent communications and you will be kept fully informed in the coming months and years about what you have to do and by when. A dedicated website, a call center and other communications are in place to help you.

In seeking compensation what are the relevant periods I need to be mindful of?

An eligible shareholder is any person who held Fortis Units at any time between 28 February 2007 c.o.b. and 14 of October 2008 c.o.b.
Without admitting any wrongdoing the parties took into consideration the various litigation procedures, the main allegations and which judgments have been rendered so far. Based on this we were able to define three “reference periods”:
- Fortis ‘communication on its subprime exposure in September/October 2007
- Fortis ‘communication on its future solvency after full integration of ABN AMRO in May/June 2008
- Fortis ‘communication on the deal with the Benelux governments between 29 September and 3 October 2008

This has led to 3 specific periods. Within the compensation scheme and depending on your specific position as a Buyer or Holder and as an active or non-active claimant, these periods are taken into account to determine specific compensation amounts:
a. Period 1: 21 September 2007 until 7 November 2007 close of business
b. Period 2: 13 May 2008 until 25 June 2008 close of business
c. Period 3: 29 September 2008 until 3 October 2008 close of business

What can I already do to prepare my claim and who will compensate any costs incurred in obtaining the relevant documents?

Firstly there is no urgency as the period until the first payments may take at the earliest by the end of 2017. You will be informed in due time on the relevant documentation and/or bank statements needed to prove your ownership at the relevant dates.
It is possible that your financial institution will ask for a fee if you no longer have all the relevant documentation and they have to provide an additional copy. That is also one of the reasons why the parties have agreed that all shareholders who fill out a claims form and who can prove to have held Fortis Units anytime between 28 February 2007 c.o.b. and 14 October 2008 c.o.b. will receive an administrative compensation. Details on the eligibility criteria and claims form submission process will be provided at a later.

What happens if I have sold all my Fortis Units in the meantime?

That is not an issue. An “Eligible Shareholder” is any person who held Fortis Units at any time between 28 February 2007 c.o.b. and 14 October 2008 c.o.b.

I inherited these Fortis Units. Am I eligible?

Yes. Heirs of “Eligible Shareholders” have the same rights as “Eligible Shareholders”.

I had 1,000 Fortis Units. Now, I have 100 Fortis Units because of the reverse stock split. Does it mean the compensation will be calculated on 100 Fortis Units?

No. The compensation is calculated on Fortis Units held at any time between 28 February 2007 c.o.b. and 14 October 2008 c.o.b.

How do I file a claim?

You do not have to take any action at this time. Details on how to file a valid claim will be provided in the coming months. There is no rush and Ageas will publish all of the relevant information in due course.
We will use a specialized claims administrator to execute claims and at the appropriate time you will be provided with its details. Such company has expertise in doing everything that is necessary within such a procedure to ensure a fluid and correct execution of the settlement procedure. Obviously, the parties will make sure that individuals can talk to the administrator at least in the three main languages, Dutch, French and English.

I’m an eligible shareholder. What do I have to do now? What is the next step?

First of all you do not need to rush. There is no urgency at this stage.
The first step in the procedure was the submission of the filing to the Amsterdam Court of Appeal. This has been done mid May 2016. The next step is a public hearing scheduled on 24 March 2017 after which the Court has to decide whether it declares the settlement binding or not. If the court has declared the settlement to be binding, an opt-out period will start of 3 to 6 months. Only after this period (and if the settlement is not annulled because the opt-out percentage exceeded a certain % of the settlement amount), distributions of payments can start. This means that payment is to be expected at the earliest by the end of 2017.
Ageas will ensure that via the various communication channels it has set up, all relevant information and precise guidelines on what every individual should do will be available in due time.

What should I do with practical questions such as: “I bought Fortis Units on a common basis with my spouse, how should I file my claim?”

In due time, Ageas and the claimant organizations will provide all relevant information so that you can prepare your claims file in a valid way.

Why will it take so long for investors to receive compensation?

We first have to await the binding declaration by the Court. This may take one year from now. If the Court declared the settlement binding, investors will receive information on the terms and will then be granted a period of time during which they can consider whether they want to participate in the settlement or "opt-out" (three to six months). In addition, the settlement agreement provides that investors have one year to file their claim form after notification of the binding declaration of the Court.

Do I have to pay taxes on the compensation?

It is impossible for Ageas to give advice as we don’t know the personal tax situation of each individual.

Does it make sense to continue my legal procedures against Ageas and its former Directors?

That is a question that each individual has to decide. The WCAM procedure provides for an opt-out procedure which means that as an eligible shareholder you have the right to step out of the settlement. Be mindful however that the WCAM procedure is an explicit opt-out procedure which means that every eligible shareholder needs to opt out explicitly and is otherwise supposed to accept and to opt in and to be bound by the settlement. If an eligible shareholder opts-out of the settlement, he will not receive any compensation.

The calculator is accompanied by a note stating that the amount calculated is merely indicative, and that the amount of compensation is subject to potential dilution or increase. What exactly does this mean?

The maximum total amount payable to the collected eligible shareholders under the settlement is EUR 1,203,700,000. Moreover, there are two sub-maximums: the maximum total amount to be distributed among Active Claimants is EUR 795,900,000. For Non-Active Claimants, this is limited to EUR 407,800,000.
In determining the compensation per Fortis Unit as well as the total amount, the settlement parties attempted to realistically assess the total number of Fortis Units for which a valid claim for compensation will be submitted.
They were able to give a fairly accurate estimate for the Active Claimants group, since this consists of persons who have already identified themselves through legal action or have signed up with one of the settlement parties.
However, the assessment of the number of Non-Active Claimants was more complicated. By nature, these are people who have not yet identified themselves. Still, the parties were able to estimate the expected turnout for this group based on historical data and scientific studies.After the submission period for claim forms ends, the claims administrator will determine the total number of Fortis Units for which compensation is being claimed. If at that time it turns out that compensation is claimed for fewer Fortis Units than expected when determining the total amount in either the Active or Non-Active Claimants group, the total amount for this group will not be fully utilised. In that case, the excess funds will be used to increase the amount per Fortis Unit paid out to each claimant in the relevant group by up to 15%.
Conversely, if it turns out that compensation has been claimed for more Fortis Units than expected in either the Active or Non-Active Claimants group, the amount per Fortis Unit will be proportionally reduced for this group.
You can find further explanations in the Submission after case management hearing, published on this website in the category ‘Documents’.

Questions about the settlement agreement dated 14 March 2016

What motivated you to reach an agreement now?

We have always said that proper management of the legacy implied considering all possible options, and this did not exclude a settlement route. This is not an easy route as you can imagine as litigation is very complex.
Whilst over the past eight years we have had positive and less positive judgements in the various procedures in Belgium and the Netherlands, we wanted to draw a line under what has been an uncertain and difficult period for everyone.
The settlement brings with it greater certainty and transparency around this long outstanding issue. As a Group this agreement will allow us to regain full strategic and financial flexibility and we will in future be able to focus fully on our core business and the realization of our strategic plans.

Which Claimant representatives are involved in the settlement?

The claimant representatives that are currently party to the settlement are Deminor, Stichting FortisEffect, SICAF and VEB who together represent about the vast majority of the current active claimants (i.e. claimants who initiated legal proceedings or on whose behalf proceedings were initiated.). Mr. Arnauts and Mr Lenssens, two Brussels based attorneys who also launched legal actions on behalf of a number of claimants, agreed to support the settlement.

What is the WCAM procedure?

WCAM refers to the Dutch Act on Collective Settlement of Mass Claims (Wet Collectieve Afwikkeling Massaschade, “WCAM”).
The WCAM procedure is a legal procedure under Dutch law whereby parties to an out of court settlement agreement can jointly request the court (the Amsterdam Court of Appeal) to declare the settlement binding on all beneficiaries of the settlement. Before deciding on the binding declaration, the Court will assess, among other things, the representativeness of the organizations as well as the reasonableness of the settlement.
The law provides that any beneficiary of the settlement can opt out within a certain period after the announcement of the binding declaration.

How much money will I receive (per Fortis Unit)?

The level of compensation depends on the specific characteristics of your acquisitions and holdings.
On 23 May, Ageas published as promised a second press release including the proposed compensation amounts per type of eligible shareholder. The tables are given below:

Indicative compensation in EUR per Fortis Units
PERIOD 1
(21/09/2007 O.O.B. – 7/11/2007 C.O.B.)
PERIOD 2
(13/05/2008 O.O.B. – 25/06/2008 C.O.B.)
PERIOD 3
(29/09/2008 O.O.B. – 3/10/2008 C.O.B.)
Non-active claimants Compensation for Buyers of Fortis Units 0.38 0.85 0.25
Compensation for Holders of Fortis Units 0.19 0.43 0.13
Claim form add-on : EUR 0.5 per Fortis Units with a maximum of EUR 200
Active claimants Compensation for Buyers of Fortis Units 0.56 1.28 0.38
Compensation for Holders of Fortis Units 0.28 0.64 0.19
Retail add-on : EUR 0.5 per Fortis Units with a maximum of EUR 550 calculated on the highest number of Fortis Units held as Buyer and/or Holder in Period 1,2,3
Claim form add-on : EUR 0.5 per Fortis Units with a maximum of EUR 400

In addition, a number of fictitious examples are published on the website as well as a calculation tool that allows every individual to obtain a first estimation of the amount that could be attributed.
At the same time the WCAM filing with the Amsterdam Court of Appeal has taken place and will be publicly available on the same website.

Why are the compensation amounts different between an active and a non-active claimant?

Active Claimants are those persons who took an affirmative step to make a claim against Ageas by participating directly in a court action against Ageas before 14 March 2016 or by having registered with or joined before 31 December 2014 an organization that initiated such court action.
These parties paid expenses (lawyers’ fees, membership fees….) and without their action there would not have been any settlement. Therefore, it is fair that they receive an extra compensation. The non-active claimants will benefit from those initiatives taken by the active claimants, as they will also receive a compensation which is reasonable.

Why is there only a “retail add-on” for Active Claimants? Is it only for retail shareholders?

Active Claimants have paid expenses (lawyers’ fees, membership fees…) and without their action there would not have been any settlement. Therefore, it is fair that they receive an extra compensation. Costs made may be relatively higher for small shareholders. Therefore we split up the extra compensation for Active Claimants in two parts: (i) a higher amount per Fortis Unit and (ii) an extra compensation limited to 1,100 Fortis Units (EUR 0.5 per Fortis Unit with a maximum of EUR 550). This second compensation will benefit (relatively) the small shareholders the most. Every eligible shareholder who is an active claimant is entitled to receive the retail add-on.

What happens if the WCAM judge decides not to support the settlement?

If the Court deems that the proposed settlement does not meet the criteria, it can withhold a binding declaration and invite parties to amend the agreement. It is up to the parties to amend or not.
In terms of how this works in practice: The Court has to test two crucial elements regarding the proposed settlement, being:

1. The representativeness of the organizations
2. The reasonableness of the proposed settlement

Questions about the notification plan for the public hearing of 24 March 2017

I learned from your press release/the press that the Amsterdam Appeal Court will organize a public hearing on 24 March 2017 and that potential beneficiaries will be notified by letter or e-mail. When will I receive this notification?

Before declaring the Fortis settlement binding, the Amsterdam Court indeed organizes a public hearing, where interested parties can put forward arguments against or in favor of the settlement.
Please note that there is no obligation to attend the hearing to preserve all your rights under the settlement.
The way you will be notified, and the timing thereof, firstly depends on whether your contact details are known to Ageas and/or a supporting claimant organization.
1. For the known shareholders, notification will be as follows:
a. People who joined one of the claimant organizations Deminor, SICAF or Stichting FortisEffect will in the first instance be notified by e-mail from their respective organization; this e-mail will be sent early October;
b. People not included under (a) and living in the Netherlands will be notified by normal letter; this letter will be sent early November;
c. People not included under (a) and living outside the Netherlands will notified by registered letter (and in some cases by serving of a writ by a bailiff), also early November.
For Belgium, a registered letter is mandatory, which will be sent by a Dutch bailiff and which will be in the three official languages, Dutch, French and German.
In order to ensure a smooth progress of the procedure, you are invited to collect the registered letter.
Please note that, unless you wish to attend the hearing, which is not mandatory to preserve your rights under the settlement, you do not have to take any action once you received the letter.
2. Other shareholders will be notified by publication in newspapers, magazines and online media.

I received a letter/I saw an announcement in the newspaper with regard to the public hearing; what does this mean and what do I have to do?

As you may know, we requested that the Amsterdam Appeal Court declare the Fortis settlement binding for all eligible shareholders. This is done within Dutch law and the so-called WCAM-procedure under which certain notice requirements apply when such a settlement is reached. You received this letter in the context of this procedure: before deciding that the settlement is binding, the Amsterdam Court organizes a public hearing where interested parties can put forward arguments against or in favor of the settlement. The purpose of the letter is to announce the date of the hearing and to inform you of certain requirements under the law. Following the hearing, the court will render its decision on the request to declare the settlement binding.
You are not obliged to attend the hearing. You can await the court’s decision and may still opt out in case you would have objections against the settlement agreement being declared binding.
If you wish to attend the hearing, please see question 5 below.

I received a registered letter and as I was not at home, I had to collect it at the post office. However I heard from X that he received the same letter by e-mail: why did I not receive it by e-mail?

Before declaring the Fortis settlement binding, the Amsterdam Court organizes a public hearing, where interested parties can put forward arguments against or in favor of the settlement. Under the WCAM-regime, certain notice requirements apply.
In our case, the Court approved a notification plan, which can be summarized as follows with respect to the known potential eligible shareholders: a. People who joined one of the claimant organizations Deminor, SICAF or Stichting FortisEffect are in the first instance notified by e-mail from their respective organization;People who joined the VEB will be notified in written following point sub b or sub c depending on their location
b. People not included under (a) and living in the Netherlands are notified by normal letter;
c. People not included under (a) and living outside the Netherlands are notified by registered letter (and in some cases by serving of a writ by a bailiff).
For unknown shareholders, we have proposed, and the Court has approved, a supplemental publication/notification plan that focuses on newspapers, magazines and online media.

I held Fortis Units in 2007 and /or 2008 but I did not receive a letter: why is that?

We could only send letters to potential eligible shareholders whose name and address are known to us or to one of the claimant organizations. Apparently your name and/or contact details were not included in the database. We can include you, if you wish, for further notifications if you provide your full contact details, including name and address to the call center of which the details are provided on our website or in the press release.
Please note that the fact that you did not receive a letter does not mean that you may not be a potential eligible shareholder of the settlement nor that you cannot be heard during the proceedings before the court of appeal.
You can find all relevant information and conditions on the website FORsettlement.com.

I wish to attend the public hearing: what do I have to do?

There are various options should you wish to attend the public hearing: you can engage an attorney to appear on your behalf, you can attend in person and speak, or you can attend as an observer.
1. If you wish to put forward legal arguments against the settlement, you have to engage an attorney who can submit a written defense to the Court on 10 February 2017 at the latest. During the public hearing, your attorney will have (in principle) 15 minutes to explain your defense. The written defense should be in Dutch and be sent in 4 copies to the Court: Gerechtshof Amsterdam, Afdeling civiel recht en belastingrecht, team handelsrecht, for the attention of Mrs. S.A.W.M. Rodrigues Parreira, Postbus 1312, 1000 BH Amsterdam, with reference to case number 200.191.713/01. At the same time a copy should be sent to the counsel of all parties that filed the petition in court (their names can be found in the petition, a copy of which is on the website). Please note that in addition to your counsel fees, a court fee has to be paid.
2. It is also possible to attend the hearing without counsel. If you wish to take the floor yourself, you will be given 5 minutes speaking time (which equals about 1,5 page in A4).
3. Finally you can attend just as an interested party, without an active role. However, please note that attendance is not mandatory to preserve your rights. Your rights under the settlement will in no way whatsoever be affected if you do not attend. Anyone wishing to attend has to register by 24 February 2017 at the latest by letter or e-mail:
- by letter: to Gerechtshof Amsterdam, Afdeling civiel recht en belastingrecht, team handelsrecht, for the attention of Mrs. S.A.W.M. Rodrigues Parreira, Postbus 1312, 1000 BH Amsterdam;
- by e-mail: to [email protected]span>; each time mentioning case number 200.191.713/01.
If you wish to speak in court, you have to mention this explicitly when registering.
The Amsterdam Appeal Court is situated in Paleis van Justitie, IJdok 20, 1013 MM Amsterdam.
If too many people would register for attendance, exceeding the capacity of the court, another location will be sought and such information will be posted on this website.

I saw an announcement in the newspaper but I did not receive a personal letter: can I nevertheless attend the public hearing?

We could only send letters to potential eligible shareholders whose name and address are known to us or to the claimant organizations. That is why we also included announcements in various newspapers. You can attend the hearing even if you haven’t received an individualized letter. Please note however that there is no obligation to attend the hearing to preserve all your rights. If you would like to attend, see the requirements mentioned in question 5.

Can I get a copy of the Notice of Hearing of the Fortis Settlement?

Yes. Please note that you can download a copy of the notice on this website in Dutch, French, German or English (in the Documents- section). You may also request a copy of the Notice be sent to you either by e-mail or by post by providing your relevant contact details to the FORsettlement call center: tel: Belgium: 0800 26 832; The Netherlands: +31 30 25 25 359; International: +32 (0)2 557 59 00 or by sending an e-mail in the ‘Contact’- section of this website.

If you would just like to be kept informed about the settlement you can register on this website by going to the “Contact” page and clicking the “Register” button.

I received a letter containing a notice letter by the Amsterdam Appeal Court. Does this mean I have to submit now my claim to the court?

No, the convocation relates to a public hearing organized by the Amsterdam Appeal Court. This is only of interest to you if you wish to put forward legal arguments against or in favor of the settlement.
If not, you do not have to take any action for the time being. You will be informed in due time of the next steps and the formalities. There is no claims process at this time.

Do I need to go to the hearing procedure to preserve my rights to compensation?

Not at all. Attendance at the hearing is optional and mainly aimed at providing a forum to formulate objections against, or arguments in support of the settlement.

Do I need to go physically to Amsterdam to be heard or can I convey my arguments in writing?

You can file a written defense, but then you will need to involve an attorney (see question 5 above).

What if I cannot read the documents I received because they are not in a language I understand?

Enclosed with the documents was a document labeled “Annex II” addressing the right to refuse to accept a document. In such a situation , you can thus refuse to accept the document and/or you can choose to return the form provided within one week of receipt to the address provided on the form.

Why am I receiving this notice in more than one language?

Pursuant to the EU Regulations on Service of Legal Documents, documents are required to be provided in certain, and sometimes multiple, languages dependent on the country of service. If the document is not translated into a language you understand or the official language(s) of the place of service, you have a right to refuse the document pursuant to Regulation (EC) No 1393/2007. If you would like to refuse service based on these grounds, you must refuse to accept the document at the time of service or complete and return the form provided entitled “Annex II,” within one week of receipt, to the address provided on the form.

Why am I receiving this notice?

You have received the notice because you were identified as a potential eligible shareholder who purchased or held Fortis Units between 28 February 2007 c.o.b. and 14 October 2008 c.o.b. Additional information, as well as all relevant documents, can be found at this website