ABOUT THE FOUNDATION
The Stichting Steinhoff International Compensation Claims (“Foundation”) is an “open” foundation pursuant to Article 3:305a of the Dutch Civil Code. The Foundation’s purpose includes: (1) to promote, protect and represent the interests of Interested Parties in general and of Participants in particular, in connection with their Claims, (2) to identify possible actions against one or more of the Defendants in the countries concerned, for their responsibility in connection with the Events; (3) to uncover and assist in the uncovering of the truth concerning the Events, including, but not limited to filing a petition to conduct an investigation into policy and the course of events (“enquete procedure”) of Steinhoff with the Enterprise Chamber of the Amsterdam Court of Appeal (“ondernemingskamer”) or joining these proceedings as an interested party; (4) to inform the investing public about class action options, particularly in the Netherlands and Germany, for recovery of losses incurred due to the Events; (5) to investigate, research, analyse and pursue any possible legal bases in various jurisdictions, in and outside of the Netherlands, to pursue Claims to those Interested Parties and, particularly, the Participants; (6) to pursue possible corporate governance changes at Steinhoff to avoid future mistakes, oversights and failures which led to the Events.
The Foundation was established in early 2018 with the focus of representing the interests of its participants in the recovery of their global investment losses, independent of the jurisdiction where litigation has to be brought.