Stichting Investor Loss Compensation (SILC)
About us
Stichting Investor Loss Compensation (SILC) is an independent foundation established under Dutch law on 15 July 2021 and operates on a non-profit basis. SILC protects and represents shareholders and assists them to recover losses that are the result of the wrongful conducts of publicly-traded companies, including Airbus.
SILC is an independent, Netherlands-based claim foundation that follows the principles laid down in the Claim Code 2019. Where it deviates from the Claim Code, it will provide an explanation as the Claim Code follows the comply or explain principle. SILC is funded by Therium Capital Management Limited, which is domiciled in England and is one of the earliest litigation funders in the world with a long, successful track record in providing funding for investor loss recovery litigation across a wide variety of jurisdictions.
The foundation has decided to appoint an individual from the funder’s team to the Supervisory Board (Dr. Christoph Kuzaj). In his role as a Supervisory Board Member, Dr. Kuzaj will operate autonomously and independently from the funder and all other persons and legal entities directly or indirectly associated with the funder, and this will also be ensured by the Board.
Meet our team
The Boards
The Foundation is being led by the experienced Board of Directors and partnering with a leading group of experts in the fields of collective redress and the administration of collective actions.
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Willem van Hassel
Willem van Hassel
Chair of the Board of Directors
Willem van Hassel is an experienced and all-round governance expert, having been a practicing lawyer in that field for over thirty years and having served on the boards and supervisory boards of over twenty profit and non-profit national and international organisations ...
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Prof. Marta Pertegás Sender
Prof. Marta Pertegás Sender
Member of the Board of Directors
Marta studied law at the University of Barcelona, Spain; and completed a Master of Laws and PhD at the KU Leuven, Belgium. From 2002 to 2008, she taught private international law, international and comparative procedural law and World Trade Organization law as a full-time ...
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Otto de Vries
Otto de Vries
Member of the Board of Directors
With a background based extensively in finance, Otto brings a valuable perspective and skillset to the Board. He graduated from the University of Groningen after studying Business Economics and Management, and completed senior management trainings at the University of ...
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Karl Peter Puszkajler
Karl Peter Puszkajler
Chair of the Supervisory Board
Karl is the chairperson of the Supervisory Board. As a former judge on the Court of Appeal in Munich, Karl decided thousands of civil and criminal cases and gained extensive experience in all areas of commercial and corporate law. After retirement from the Court of ...
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Jeroen Chorus
Jeroen Chorus
Member of the Supervisory Board
Jeroen currently works as a senior legal counsel, and previously worked at Edinburgh University, University College London, University of Amsterdam, and Leiden University, where he held the Leiden chair of Roman Law and Legal History. He was also previously a judge ...
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Dr. Christoph Kuzaj
Dr. Christoph Kuzaj
Member of the Supervisory Board
Frequently recognized for his role as one of the global leaders in finance, Christoph is the managing director of Therium Deutschland GmbH. With more than 20 years of experience, Christoph has specialised in corporate and capital markets law with a particular focus ...
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Claim Code and Governance
Governance & Documents
SILC is an public-interest foundation established under Dutch law, with a Board of Directors and a Supervisory Board. The foundation operates on a non-profit basis and represents affected investors in Airbus who seek compensation. Board and Supervisory Board members are remunerated for their time but have no financial interest in the outcome of the action.
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Governance
SILC is an independent, Netherlands-based claim foundation that follows the principles laid down in the Claim Code 2019. Where it deviates from the Claim Code, it will provide an explanation as the Claim Code follows the comply or explain principle.

The foundation operates on a non-profit basis and represents affected investors in Airbus who seek compensation. Board and Supervisory Board members are remunerated for their time but have no financial interest in the outcome of the action.

SILC is unique in its use of the new act on the collective damages claims, WAMCA (Wet Collectieve Afwikkeling Massaschade), which came into force in the Netherlands on January 1st, 2020 and provides an efficient mechanism for collective redress allowing SILC to resolve the claims of all investors in a coordinated manner. If and when needed, SILC will also litigate the claims in various other jurisdictions in order to make investors and participants whole.

SILC is funded by Therium Capital Management Limited, which is domiciled in England and is one of the earliest litigation funders in the world with a long, successful track record in providing funding for investor loss recovery litigation across a wide variety of jurisdictions. The foundation has decided to appoint an individual from the funder’s team to the Supervisory Board (Dr. Christoph Kuzaj). In his role as a Supervisory Board Member, Dr. Kuzaj will operate autonomously and independently from the funder and all other persons and legal entities directly or indirectly associated with the funder, and this will also be ensured by the Board.

As the funder works via a contingency fee, up to 25% of the recovered amounts could be paid to the funder in case of success. SILC will request the court to make a cost order against the defendant for the funder’s fee so participants receive full compensation for their losses. The ultimate fee shall be reasonable and adequate, as subject to SILC’s Board’s and Supervisory Board’s approval and dependent on the length of the litigation, negotiation results and Court approval. In return, participants of the Foundation can join the Foundation’s cause for free.

Efforts will be made by both the Board and the Supervisory Board of SILC (pursuant to Article 3:305a, paragraph 2, sub b of the Dutch Civil Code) to involve participants as much as reasonably possible in the decision-making process on important issues. In particular, the foundation will consult its constituency about the distribution of any financial compensation that may be obtained for the damage that its participants claim to have suffered in accordance with Article 3, Section 3.2, subsection (e) of its Articles of Association, as well as about a potential settlement proposal as referenced in Article 3, Section 3.2, subsection (c) of its Articles of Association. The foundation may organize consultation of its participants on these matters through digital meetings or other forms on online communication.

Members of the Board of Directors and the Supervisory Board receive a remuneration of €7.500 per year, including the same for the Chairperson. Reasonable traveling costs and other costs and disbursements may be reimbursed.

Our partners
Value-adding partners and support
The Foundation is being led by experienced professionals and advised by a leading group of attorneys, academics, and professionals from around the world.

These professionals are highly respected and recognised as outstanding leaders around the world in the fields of collective redress and the administration of collective actions.
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Better Finance Logo
Better Finance
A public interest non-governmental organisation advocating and defending the interests of European citizens as financial services users at European level.
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DSW
Deutsche Schutzvereinigung für Wertpapierbesitz e.V. (DSW) is a non-profit organisation and Germany’s leading association for private investors.
Follow This Logo
Follow This
Follow This is a non-profit association that unites over 8,000 green shareholders (big and small) in oil and gas companies to become a powerful voice demanding change.
DRRT Logo
DRRT
An international law firm and litigation funder assisting investors worldwide in their global loss recovery efforts.
Rightshare
Leading platform that connects shareholders with investment recovery opportunities worldwide.
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Birkway
A conflict-free dispute resolution law firm covering the broader spectrum of corporate and commercial dispute resolution.
Therium Litigation Funding Logo
Therium Litigation Funding
Therium is one of the world’s largest and most established global litigation finance and arbitration finance firms.
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