Regional news: Netherlands
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
Dutch court rejects WHOA request for energy group
A holding company for a gas and electricity group has failed to open a WHOA procedure, after a Dutch court found the only reason it made the application was to prevent reputational damage.
02 September 2021
Dutch restaurant secures WHOA moratorium
A Dutch restaurant operator has obtained a four-month cooling off-period while it pursues a scheme of arrangement with creditors including multinational lender Rabobank.
31 August 2021
Steinhoff strikes tentative deal with large investor group
One of retail conglomerate Steinhoff’s largest creditors, which successfully claimed it breached South African law, has accepted a revised global settlement offer “in principle”, while the group has amended its South African scheme to block another disgruntled creditor from voting.
25 August 2021
Jet Airways employees reject settlement offer, lodge NCLAT appeal
Employees of Mumbai-based Jet Airways have failed to back an offer to settle their claims and reportedly filed an appeal against the airline’s recently approved resolution plan.
20 August 2021
Latest WHOA ruling sees restructuring expert appointed but attachments left in place
A Dutch court has appointed a restructuring expert and entered a four-month cooling-off period for an anonymised car accessories trader – but rejected a request to lift creditor attachments on certain assets.
09 August 2021
Norton Rose Fulbright expands in Amsterdam with De Brauw hire
Norton Rose Fulbright has hired a new partner from De Brauw Blackstone Westbroek in Amsterdam, in a bid to capitalise on the Netherlands’ move to become a hub for cross-border restructuring.
03 August 2021
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