Regional news: Netherlands

ABI International, Paris: “Why can’t we all just get along?”

The UNCITRAL model law on recognition of insolvency-related judgments could “fix” the impact caused by the decisions in Rubin and Gibbs if enacted in the UK, panellists at the ABI’s international conference in Paris have said.

21 November 2019

Steinhoff’s European subsidiaries complete €9bn restructuring

Scandal-hit South African retail group Steinhoff has announced the completion of its €9 billion European restructuring, but the news has failed to stop its share price falling below 1 Rand for the first time.

20 August 2019

Bondholders take control of Lebara after Dutch enforcement ruling

In a “ground-breaking” ruling in the Netherlands, a group of bondholders has taken control of English telecoms group Lebara through a coercive share pledge enforcement against its Dutch holding company, Vieo.

14 August 2019

Debenhams appoints Alvarez & Marsal MD as CEO

Alvarez & Marsal managing director Stefaan Vansteenkiste has been appointed as the new chief executive officer of Debenhams Group, as the department store chain prepares for its expedited trial with landlords in September.

08 August 2019

English scheme meetings convened for Dutch group, as Chapter 15 filed

An English court has allowed a Dutch-owned automotive supply group to hold creditors’ meetings for a pair of schemes, as the group applied to have them recognised in the US and said it would also seek recognition in Canada and Holland.

01 August 2019

Jet Airways ruling could lead to cross-border cooperation framework in India

In a decision that lawyers say will lead to the creation of a framework for cooperation in cross-border insolvency proceedings, an appellate tribunal in Delhi has stayed part of a lower court’s order that refused to recognise Indian airline Jet Airways’ Dutch bankruptcy proceedings.

15 July 2019

Irish oil services group enters Chapter 11, with Irish and Bermudian proceedings to follow

Irish oilfield services group Weatherford International has filed for Chapter 11 protection in a Texas bankruptcy court aiming to cut down its US$8.35 billion debt through a pre-packaged plan that envisages parallel proceedings in Ireland and Bermuda.

04 July 2019

GRR/INSOL Europe Roundtable: What will the post-Brexit insolvency landscape look like?

Is the UK set to become a “third state” when it leaves the EU? Will insolvency proceedings opened in the UK be recognised by member states? Can UK schemes of arrangement maintain their dominance in the market? And how will legislative changes shape the post-Brexit landscape? GRR invited nine distinguished guests to find out.

02 April 2019

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

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