Regional news: Netherlands
Europe column: independent territorial insolvency proceedings under the recast EIR
Bob Wessels picks up where he left off last April on the topic of what happens when a territorial insolvency proceeding is opened prior to any main insolvency proceedings.
17 February 2023
Europe column: check the right registers before filing
Bob Wessels, professor emeritus of international insolvency law at Leiden University and expert counsel on restructuring and insolvency to the European Commission, warns petitioners to look in the right place for judgments opening insolvency proceedings in another EU member state – or they may face costly consequences.
07 February 2023
VEON secures sanction of English scheme
Netherlands-incorporated telecoms company VEON has secured sanction of an English scheme to extend two sets of notes while it tries to sell a wholly owned Russian subsidiary.
30 January 2023
Europe column: The need for a pan-European approach on Russia sanctions impacting insolvencies
Bob Wessels, professor emeritus of international insolvency law at Leiden University and expert counsel on restructuring and insolvency to the European Commission, discusses how Russia sanctions have permeated a Dutch insolvency, and makes a case for a pan-European approach towards the impact of public law measures on insolvency law.
16 January 2023
HEMA’s 2020 restructuring survives creditor challenge
Two creditors have failed to get Dutch discount retailer HEMA’s 2020 restructuring in the UK, US and the Netherlands declared unlawful, in a bid to claim €1.6 million plus interest.
11 January 2023
English scheme convened for solvent Dutch telecoms company facing sanctions dilemma
A solvent Netherlands-based telecommunications company has obtained permission to hold scheme meetings in England, despite objections that its creditors should be split into four classes, as it buys time to pursue the sale of a Russian subsidiary and regain entry to international capital markets.
22 December 2022
Europe column: COMI and ascertainability by third parties
Bob Wessels comments on Lord Justice Lewison’s concurring opinion in the recent English Court of Appeal centre of main interests decision in East-West Logistics v Melars Group.
14 November 2022
Not every difference in creditors’ rights requires class separation, Dutch court rules
A Dutch court has heavily criticised an international banana trader’s WHOA plan, finding that its valuation report lacked information and saying it shouldn’t place creditors in different classes for the sole reason that some of them had contested claims.
27 October 2022
Dutch lighting group completes US pre-pack in 46 days
UPDATED: Netherlands-headquartered lighting group Lumileds has secured a New York court’s approval for its pre-packaged Chapter 11 plan that will see lenders take control of the company from US private equity firm Apollo Global Management.
24 October 2022
Europe column: towards a review of the Dutch IP profession
Bob Wessels, professor emeritus of international insolvency law at Leiden University and expert counsel on restructuring and insolvency to the European Commission, calls for a better legislative balance for the IP profession in the Netherlands.
05 October 2022