Regional news: Netherlands
Dutch scheme fails after inadequate disclosure on new money financing
A Dutch court has declined to sanction a nursing home manager’s WHOA schemes, finding that it failed to provide sufficient information about a new money financing and incorrectly classified the creditor proving it in a way that influenced voting outcomes.
24 November 2021
Dutch court rejects energy broker’s cooling-off request
A Dutch court has denied a WHOA cooling-off request from a door-to-door gas and electricity supply broker, finding it was “insufficiently plausible” the company could meet its current obligations during the stay.
21 October 2021
Steinhoff’s contested South African scheme set for January hearing
Three weeks after an Amsterdam court confirmed its Dutch composition plan, retail conglomerate Steinhoff has revealed its contested South African scheme has been listed for a week-long sanction hearing in January – while it also faces uncertainty from a pending liquidation application.
15 October 2021
Latest WHOA decision rules on Biofuel Plant owner’s subordinated debt
A Dutch biofuel plant owner has secured sanction of its WHOA restructuring plan despite objections from the province of Overijssel, which claimed it was wrongly classified as a subordinated creditor.
06 October 2021
Dutch Supreme Court questioned on WHOA for first time
The Supreme Court of the Netherlands has been asked to rule on the treatment of pension claims in WHOA procedures, after an Amsterdam court heard the topic had arisen in multiple restructurings.
23 September 2021
Angolan-owned energy company enters bankruptcy in Amsterdam
UPDATED: A Dutch energy company owned by scandal-hit Angolan billionaire Isabel dos Santos has been placed into bankruptcy in the Netherlands.
22 September 2021
Dutch scheme rejected over lack of clarity
An anonymous company has had its WHOA scheme plan rejected by a Dutch court, after failing to provide enough clarity to its creditors.
08 September 2021
Steinhoff’s Dutch administrators denied South African recognition amid local liquidation request
A Cape Town court has ruled that it can hear a provisional liquidation application against the Dutch parent of retail conglomerate Steinhoff, while refusing to recognise its Dutch administrators.
07 September 2021
Jet Airways to exit Dutch proceedings, but Indian plan faces new appeals
The Dutch administrator of India’s Jet Airways has told GRR he will move to close its insolvency proceedings in the Netherlands and repatriate any leftover funds, after the group informed Indian regulators that he had sold an aircraft – but the airline’s court-approved Indian resolution plan is facing new challenges.
07 September 2021
1-1 to Dutch football club on cooling-off extension and bridging loan requests
Football club ADO Den Haag can have a three-month extension on its cooling-off period, but a Dutch court has denied its request to enter into a credit agreement with the municipality of The Hague.
07 September 2021
Get unlimited access to all Global Restructuring Review content