Regional news: Netherlands
EU court ruling heralds potential revival of Dutch pre-packs
Dutch lawyers have hailed the potential revival of pre-packs in the Netherlands, after the European Court of Justice ruled that exceptions to employee protections afforded to companies in insolvency proceedings under EU law, can extend to pre-pack sales in certain circumstances.
29 April 2022
Stibbe appointed as Dutch bank falls victim to Russia sanctions
A Dutch subsidiary of Russia’s Alfa Bank has entered bankruptcy in Amsterdam, becoming the latest company to struggle following UK and US sanctions imposed as a result of the war in Ukraine.
25 April 2022
Dutch e-commerce group secures cooling off period, cites “explosive” growth
A Dutch e-commerce group with international operations has secured a four-month cooling off period and succeeded in appointing Turnaround Advocaten’s Jaap Van der Meer as its restructuring expert, in a WHOA application arising from explosive growth in online sales, post-pandemic supply chain problems and rising costs.
17 March 2022
New owners for ADO Den Haag as Dutch restructuring plan approved
In what has been described as a “trailblazing” decision, a Dutch court has approved football club ADO Den Haag’s restructuring plan after its Chinese owner failed to raise objections in a timely manner.
28 February 2022
BVI court confirms directors liable in Dutch-Chinese joint venture’s liquidation
A British Virgin Islands court has confirmed that company directors who fail to ensure their duties are being carried out for a “proper purpose” may be liable for restitution, in a case brought by the local liquidators of a Dutch-Chinese joint venture vehicle.
09 February 2022
New restructuring chairs named as A&O continues US expansion
Allen & Overy has named London’s Katrina Buckley and Amsterdam-based Sigrid Jansen as the new co-heads of its global restructuring practice, while the firm has continued its growth in the US with the hire of New York partner Robin Spigel.
02 February 2022
WHOA proceedings open for liquidations, Dutch court finds
A Dutch sustainable clothing retailer has obtained a four-month extension to its WHOA cooling-off period so it can see through a liquidation plan after shareholders concluded that a reorganisation would not be successful.
26 January 2022
DIPping a toe in the water: US-style rescue finance comes to the EU
A Hogan Lovells team looks at some of the differences in the way post-petition finance provisions have been (or will be) implemented in France, Germany, Italy and the Netherlands, drawing comparisons with the established DIP finance regime in the US.
26 January 2022
Steinhoff's global settlement approved
South African retail conglomerate Steinhoff can begin to finally make payments to investors that lost out when its share price collapsed in 2017, after a court in Cape Town sanctioned its former holding company’s scheme.
24 January 2022
Steinhoff conditionally settles South African opposition
Retail conglomerate Steinhoff has conditionally settled disputes with two sets of creditors who had threatened to derail its hard-won €10 billion global settlement in South Africa.
16 December 2021