Regional news: Netherlands
New York court approves pre-pack for Indonesian shipper
The SDNY bankruptcy court has approved a pre-packaged restructuring plan for Indonesian shipping company Arpeni’s Dutch note-issuing subsidiary, seven years on from the parent company’s first restructuring.
20 March 2019
Say a little prayer: Insolvent fund escapes award enforcement
A court in Saint Vincent and the Grenadines has refused to enforce an arbitral award against an insolvent local investment fund, saying the Dutch award holder’s prayer had failed to specifically request enforcement.
01 February 2019
Yukos bankruptcy denied recognition in Netherlands
The Dutch Supreme Court has refused to recognise oil and gas company Yukos’s Russian bankruptcy, ending a long-running battle for control of the Russian oil company’s international assets.
22 January 2019
Steinhoff CVAs stall after Seifert challenge
South African retail conglomerate Steinhoff says “a company claiming to be a creditor” has filed an objection to company voluntary arrangements for two of its European subsidiaries, one month after creditors approved them.
11 January 2019
Dutch liquidator’s third-party claim falls outside Insolvency Regulation, CJEU advocate-general argues
A Dutch liquidator’s claim against Belgian bank BNP Paribas Fortis, over a payout to a bailiff imprisoned for embezzlement, isn’t governed by the EU’s Insolvency Regulation, according to an advocate-general of the EU Court of Justice.
24 October 2018
New York court upholds Yukos buyer’s Chapter 11 plan
A US shareholder has failed to overturn a restructuring plan for a Luxembourg-registered vehicle set up to buy the financial services arm of bankrupt Russian oil giant Yukos.
17 October 2018
Steinhoff adds Lehman administrator as €12bn class action looms
Struggling South African conglomerate Steinhoff has nominated former PwC partner Paul Copley to its supervisory board, a week after it emerged that a Johannesburg-based corporate boutique had launched a class action against the company and linked parties.
17 August 2018
Netherlands' highest court clarifies bankruptcy’s effect on contracts
The Netherlands’ Supreme Court has revised its earlier jurisprudence on how bankruptcy proceedings affect contractual obligations, saying only claims “already inherent” in a creditor’s legal position at the time of bankruptcy can go ahead.
17 April 2018
Brazilian court approves Oi restructuring plan
The Rio de Janeiro court supervising the high-profile restructuring of Brazilian telecoms group Oi has approved a US$20 billion restructuring plan that was agreed by creditors last month.
09 January 2018
US court declines to recognise Chapter 15 case lodged by Oi Dutch affiliate
A New York bankruptcy court has declined to recognise Dutch insolvency proceedings launched by an affiliate of Brazilian telecoms company Oi, accusing Aurelius Capital Management, one of the group’s major creditors, of weaponising the Chapter 15 process to attack Oi’s Brazilian restructuring plan.
06 December 2017