Regional news: Netherlands

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

Trustee of Oi's Dutch arm takes battle with Brazilian parent to New York

The trustee of the Dutch arm of Brazilian telecoms group Oi has filed for Chapter 15 protection in a New York Court, seeking recognition of his authority to act for the subsidiary - and to reject the restructuring plan that Oi is attempting to pass in Brazil.

12 July 2017

Lawyers react to “confused” European court judgment on Dutch pre-packs

Lawyers have criticised a recent Court of Justice of European Union decision that spells trouble for new Dutch legislation on pre-pack restructurings, telling GRR that the court’s interpretation of insolvency law is “flawed”.

29 June 2017

Dutch court denies recognition of “unlawful” Yukos Oil bankruptcy

After a decade in question, an Amsterdam appeals court has denied recognition of the insolvency proceedings of what was once Russia’s biggest oil producer, Yukos, finding that actions of the Russian government drove it into bankruptcy unlawfully.

12 May 2017

New York court throws out allegations against ex-Lyondell directors

After nearly 10 years of litigation, a New York court has thrown out fraudulent conveyance and breach of fiduciary duty allegations linked to the collapse of US-Luxembourg petrochemicals group LyondellBasell.

25 April 2017

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