Regional news: Netherlands

Isolux contractors demand clarification of Chapter 15 stay

US contractors to insolvent Spanish engineering group Isolux Corsán have asked a New York court to clarify the terms of a Chapter 15 stay, arguing that its terms are broader than the stay imposed in the company’s foreign main proceedings in Madrid.

16 March 2017

Fieldfisher opens in Amsterdam with insolvency partner hires

European law firm Fieldfisher has launched a new office in Amsterdam with five partners from Dutch firm Kennedy Van der Laan.

24 February 2017

Oi avoids official bankruptcy in Netherlands, shareholders reject plan proposals

Judges in the Netherlands have refused to convert preliminary insolvency proceedings for local affiliates of Brazilian telecoms company Oi into bankruptcy cases, while the company’s major shareholder has vowed to shun all alternative restructuring plans put forward by bondholders and third party investors in Brazil.

07 February 2017

UK court allows creditors' meetings for third Metinvest scheme

Ukranian steelmaker Metinvest has secured permission from an English court to host a creditor vote on what is its third scheme of arrangement for the implementation of a restructuring plan – and has made a parallel US Chapter 15 filing to protect its US assets while the final hurdles are cleared.

18 January 2017

Oi files bankruptcy proceedings in the Netherlands

The Dutch administrators of Brazilian telecoms company Oi have filed bankruptcy proceedings for the group's local arms in an Amsterdam court, as rifts between bondholders and intervention from government authorities delay its Brazilian judicial reorganisation.

07 December 2016

DTEK creditors asked to delay maturity of debt issued under landmark English scheme

A UK court has ordered creditors to Ukrainian miner DTEK to vote on the group’s second scheme of arrangement in less than two years, as it struggles to recover from physical and financial damage caused by ongoing war in its homeland.

06 December 2016

Brave New World for Czech miner as UK scheme sparks cross-border legal battle

In 2014, Eastern Europe’s largest coal miner completed a complex cross-border restructuring by shifting its centre of main interest to London to utilise an English scheme of arrangement; two years later a Czech court has ruled that the deal was unfair, allowing its chief subsidiary to sue the company for close to US$1 billion.

16 November 2016

Morrison & Foerster and Felsberg advise on alternative plan for Oi

Morrison & Foerster and Brazilian firm Felsberg Advogados are working on an alternative restructuring plan for Brazilian Telecoms company Oi, along with São Paulo–based consultancy Integra Associados, and New York investment banking boutique ACGM.

19 August 2016

Davis Polk advises as Dutch e-commerce company sells Brazilian subsidiary

Netherlands-headquartered e-commerce company Cnova has entered into a binding reorganisation agreement to sell its major Brazilian subsidiary to an affiliated local retail group, with Davis Polk & Wardwell advising the buyer.

10 August 2016

Dutch court recognises Indian proceedings for the first time

A Netherlands court has for the first time recognised insolvency proceedings pending in India, bringing a Dutch insolvency practitioner a step closer to pursuing a claim against the Indian debtor.

09 August 2016

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