This book specifically covers issues regarding jurisdiction and the recognition andenforcement of judgments in cross-border mass disputes relating to financial services.Collective redress mechanisms, legal mechanisms which can be used to resolve mass disputescollectively, are growing more important. Due to the global increase in cross-bordertrade and financial transactions, the number of cross-border mass disputes has increased.In the EU, several prototypes of collective redress mechanism exist that can be used toresolve mass disputes and, aside from the EU's recommendation on the drafting oflaws relating to collective redress, a reevaluation of the Brussels Regulation has alsotaken place as on 10 January 2015 the Brussels I-bis Regulation replaced the old BrusselsRegulation dating from 2000.
In spite of a minor reference to collective redress in the Commission proposal, BrusselsI-bis does not contain any provision relating to collective redress. As a result, many questionsregarding cross-border mass disputes and the relevant private international law issues remainunanswered and unresolved. This book sets out to describe the most important prototypesby referring to actual collective redress mechanisms.
In addition, it also sets out how parties to such mass disputes can confer jurisdiction to courtsin the EU and what the various pitfalls are. Moreover, the rules concerning the recognitionand enforcement of judgments originating from a collective procedure are listed. Ascross-border collective redress mechanisms and the rules of private international law to beused in such a context are still being developed, the goals of private international law andthe goals of the referred collective redress mechanisms are analysed to provide an insightinto how these sets of rules should and could be employed.
This book is primarily aimed at researchers, practitioners and lawmakers actively involvedin and/or professionally interested in the field of private international law and collectiveredress mechanisms and should prove very useful in providing them with a greater in-depthunderstanding of the issues at hand.
Thijs Bosters is a law clerk at the Dutch Supreme Court. Prior to his work at the SupremeCourt, he was an attorney-at-law with NautaDutilh in The Netherlands, where he workedin the Litigation & Arbitration department.