Regional news: Netherlands

Dutch cooling-off period extended, unequal treatment permitted

The Court of the Hague has extended a WHOA cooling-off period and permitted unequal treatment of unsecured creditors where it was necessary to make sure Dutch bank Rabobank cooperates with a restructuring plan.

28 July 2021

Indian conglomerate’s English scheme sanctioned

A Dutch subsidiary of India’s Jain Irrigation Systems has won court approval for an English scheme it chose over a WHOA process, after providing evidence that Brexit would not prevent its recognition in the Netherlands.

26 July 2021

Cooling-off period denied in first for Dutch scheme

In a precedent-setting Dutch scheme ruling, a real estate developer’s request for a cooling-off period has been denied after a court in the eastern Netherlands found it had not taken “serious steps” to offer a plan to its creditors.

22 July 2021

A&O advises on controlled Dutch scheme liquidation

The former holding company of international outdoor clothing group AS Adventure has been liquidated after securing a cooling-off period under Dutch scheme proceedings, which allowed it to formulate a liquidation plan while the rest of the group was sold through a share pledge enforcement.

15 July 2021

Court refuses to limit bank’s powers during WHOA cooling-off period

An anonymous company has obtained a cooling-off period from a Hague court, but failed to persuade it to use bespoke powers to limit Dutch multinational bank Rabobank's security rights as provider of a coronavirus scheme loan.

13 July 2021

New Dutch restructuring association to promote cross-border cooperation

A new restructuring body has launched in the Netherlands to “play a leading role” in improving the quality of international restructurings carried out in the country.

12 July 2021

Dutch football club’s Chinese owner fails to overturn loan payment order

Dutch football club ADO Den Haag has seen off an appeal on a loan judgment by its Chinese owner – but its WHOA restructuring expert is pessimistic about its chances of receiving the money.

06 July 2021

Steinhoff settlement in danger

Embattled South African conglomerate Steinhoff’s global settlement is in jeopardy, after a Cape Town court ruled that a key part of its plan is invalid.

05 July 2021

Mumbai NCLT approves Jet Airways rescue plan

A consortium led by UK-registered asset manager Kalrock Capital and Indian businessman Murari Lal Jalan has won approval for its plan to rescue Mumbai-based Jet Airways.

22 June 2021

Restructuring expert rejected in first for Dutch scheme

In what appears to be the first decision of its kind, a court in the Central Netherlands has rejected a request to appoint a restructuring expert over a struggling technology business.

21 June 2021

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