WCAM
As WCAM (short for Wet collectieve afwikkeling van massaschades ) or collective settlement one describes in the law of the Netherlands an amicable settlement of several with the injuring party.
In 2005 the Netherlands introduced a law on the collective settlement of mass claims (Wet collectieve afwikkeling van massaschades, short WCAM). The Dutch Civil Code regulates the legal basis for such comparisons as a special contract. In the code of civil procedure, the procedure of a court declaration of binding force of the settlement is laid down. If the settlement is declared binding, all injured parties in whose interests the settlement was concluded are entitled to receive payment. Damaged parties who do not agree to the settlement must declare within a set period to reject the settlement. This realizes the opt-out principle. For the injuring party, this has the advantage that the number of future claimants is limited, which in some cases even prompts the injuring party to make a settlement.
The decision on whether the settlement is binding is a judgment in accordance with Art. 32 EuGVVO and is therefore to be recognized and enforced throughout the European Union . Numerous transnational mass damages have already been compared within the framework of the WCAM.
Individual evidence
- ^ Van Lith, the Dutch Collective Settlement Act, IPR Thema Reeks, Appeldorn 2011, p. 114
- ↑ http://www.collectiveredress.org/collective-redress/reports/thenetherlands/overview
- ↑ http://ec.europa.eu/consumers/archive/redress_cons/nl-country-report-final.pdf
