Eligible damaged investors can join the Foundation with no upfront cost or risk.
ISAF Management; and a coalition of international law firms, including Lemstra Van der Korst N.V., Motley Rice, and Withers LLP, support Stichting Petrobras Compensation Foundation. The board of SPCF consists of Dick Bouma, a retired partner at Pels Rijcken Droogleever Fortuijn N.V., an expert on Dutch-style class actions and an experienced board member of claim foundations, Benk Korthals, former justice secretary and defense secretary of the Netherlands, and Cees Vriesman, a former director general.
While representing the interests of aggrieved Petrobras investors, SPCF has initiated litigation against Petrobras and is pursuing a binding settlement that, together with the US class action, provides for a truly global settlement. Additional goals of the collective litigation include increasing the level of influence of independent directors and safeguarding the interest of all stakeholders through improvement in compliance standards and control measures, to a level normally expected by international institutional investors. It is important that investors (a) who purchased common and preferred shares of Petrobras and/or bonds issued by Petrobras Global Finance B.V. or Petrobras International Finance Company S.A. anytime before July 28, 2015 and (b) suffered and/or are in danger of suffering (further) damages as a consequence of the alleged fraud, contact ISAF so that we can determine eligibility to pursue claims in the Dutch court system. Eligible damaged investors can join the ISAF investor coalition supporting the SPCF with no upfront cost or risk.
Register your claim
Start the process to participate in the ISAF-Petrobras recovery initiatives
No Cure-No Pay
Damaged investors who elect to join the investor group supporting SPCF in the Netherlands can do so at no upfront financial risk or commitment. ISAF absorbs all costs associated with the litigation, including: fixed legal fees, expert fees, court fees, and claims administration fees (if litigation is successful), as well as all other costs associated with plaintiff liability (so-called “Loser Pays” insurance). ISAF will collect a contingency fee if the litigation results in a successful financial outcome for damaged investors.
Procedure for Bringing Claims Against Petrobras in the Netherlands
SPCF is the litigant, with similarities to a so called “Lead-Plaintiff” in the litigation. Damaged investors have supported SPCF by signing a letter of support and by joining the ISAF investor coalition.
ISAF is encouraging all interested and eligible claimants to register a claim with ISAF and support SPCF. By executing the Participation Agreement and the Support Letter, eligible claims for damages will be properly registered.
To determine eligibility and the extent of estimated losses, ISAF will analyze Petrobras transaction data prior to July 28, 2015 for SPCF
The eligible securities and their identifiers are listed below. In addition to the specific securities listed below, the Dutch litigation will include all Petrobras issued securities that are not included in the US settlement.
|Petroleo Brasileiro SA||BRPETRACNOR9||Common Shares|
|Petroleo Brasileiro SA||BRPETRACNPR6||Preferred Shares|
|Petrobras Global Finance B.V||XS0982711631||01/15/2018|
|Petrobras Global Finance B.V||XS0716979249||03/07/2018|
|Petrobras Global Finance B.V||XS0835886598||04/01/2019|
|Petroleo Brasileiro SA||BRPETRDBS043||05/20/2020|
|Petrobras Global Finance B.V||XS0982711987||01/14/2021|
|Petrobras Global Finance B.V||XS0716979595||03/07/2022|
|Petrobras Global Finance B.V||XS0835890350||10/02/2023|
|Petrobras Global Finance B.V||XS0982711714||01/14/2025|
|Petrobras Global Finance B.V||XS0718502007||12/14/2026|
|Petrobras Global Finance B.V||XS0835891838||10/01/2029|
|Petrobras Global Finance B.V||XS0982711474||01/16/2034|