Regional news: Netherlands
A&O advises on controlled Dutch scheme liquidation
The former holding company of international outdoor clothing group AS Adventure has been liquidated after securing a cooling-off period under Dutch scheme proceedings, which allowed it to formulate a liquidation plan while the rest of the group was sold through a share pledge enforcement.
15 July 2021
Court refuses to limit bank’s powers during WHOA cooling-off period
An anonymous company has obtained a cooling-off period from a Hague court, but failed to persuade it to use bespoke powers to limit Dutch multinational bank Rabobank's security rights as provider of a coronavirus scheme loan.
13 July 2021
New Dutch restructuring association to promote cross-border cooperation
A new restructuring body has launched in the Netherlands to “play a leading role” in improving the quality of international restructurings carried out in the country.
12 July 2021
Dutch football club’s Chinese owner fails to overturn loan payment order
Dutch football club ADO Den Haag has seen off an appeal on a loan judgment by its Chinese owner – but its WHOA restructuring expert is pessimistic about its chances of receiving the money.
06 July 2021
Steinhoff settlement in danger
Embattled South African conglomerate Steinhoff’s global settlement is in jeopardy, after a Cape Town court ruled that a key part of its plan is invalid.
05 July 2021
Mumbai NCLT approves Jet Airways rescue plan
A consortium led by UK-registered asset manager Kalrock Capital and Indian businessman Murari Lal Jalan has won approval for its plan to rescue Mumbai-based Jet Airways.
22 June 2021
Restructuring expert rejected in first for Dutch scheme
In what appears to be the first decision of its kind, a court in the Central Netherlands has rejected a request to appoint a restructuring expert over a struggling technology business.
21 June 2021
Indian conglomerate secures English scheme meeting
A Dutch subsidiary of Indian multinational conglomerate Jain Irrigation Systems has won permission to poll creditors on its English scheme of arrangement while the group seeks a connected restructuring in India.
14 June 2021
Baker McKenzie guiding Indian conglomerate’s English scheme
A Dutch subsidiary of an Indian multinational conglomerate is pursuing an English scheme of arrangement to restructure Singapore-listed notes, with Baker McKenzie and Kirkland & Ellis both taking roles.
10 June 2021
Steinhoff investors’ consortium drops claims, but settlement still faces hostility
A consortium of shareholders seeking to disrupt South African conglomerate Steinhoff’s global settlement has withdrawn its opposition to the group’s Dutch suspension of payments proceedings – but other claimant groups remain hostile in the Netherlands and South Africa.
08 June 2021