Regional news: Netherlands
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
Eversheds, Interpath and BDO advising struggling global fruit supplier
Updated: Global fruit distributor Jupiter Group has entered administration in England, two weeks after its South African subsidiaries commenced business rescue proceedings in Stellenbosch.
14 September 2022
Latham and Paul Weiss advising as global lighting group files Ch11 pre-pack
Netherlands-headquartered lighting group Lumileds has filed for bankruptcy in New York, a day after entering a restructuring supporting agreement with lenders to slash US$1.3 billion in debt.
30 August 2022
Nostrum scheme sanctioned in London
Kazakhstan-focused oil and gas group Nostrum has secured sanction of its English scheme, despite two Russian bank creditors being unable to vote due to sanctions imposed following the war in Ukraine.
26 August 2022
European column: Appeal to ignorance of insolvency
Bob Wessels, professor emeritus of international insolvency law at Leiden University and expert counsel on restructuring and insolvency to the European Commission, asks a complex question arising from a simple, everyday occurrence: is a payment to someone residing or located in another EU member state, who is already insolvent, legally valid?
22 August 2022
INSOL International, London: practical tips from the bench
A panel of judges from Europe, the US, Asia and the Cayman Islands compared how valuations issues are treated in their respective jurisdictions, and warned delegates to INSOL International’s London conference in June that urgency really needs to mean urgency when it is flagged – or parties risk damaging their credibility.
22 July 2022
Lenders take control of Lycra with advice from Linklaters
Linklaters has helped junior creditors take full equity control of US stretchy fibre maker Lycra from defaulting Chinese fashion conglomerate Shandong Ruyi, in a transaction across Asia, the Netherlands, London and the US, which the firm described as “one of the most high profile and complex enforcement and restructurings implemented in the market in recent years”.
12 July 2022