Netherlands

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ING’s CFO Quits Over Money Laundering Scandal

ING‘s chief financial officer has resigned after being singled out as responsible for the compliance failings that allowed companies to launder hundreds of millions of euros and pay bribes. Koos Timmermans, a 22-year veteran of ING, is the most senior ex ...

Daily Headline - global.abi.org - 09/12/2018 - 03:08 - 0 comments

Altice Shares Fall 13% as Costs of Winning Customers Climb

Shares in French telecoms group Altice fell 13 per cent in early trade on Thursday, after it reported a fall in sales and warned that margins would be squeezed for the full year as it spent more to win customers. In the second quarter of the year total r ...

Daily Headline - global.abi.org - 08/02/2018 - 23:33 - 0 comments

Steinhoff Shareholders Sue Deloitte for Damages

Shareholders in Steinhoff on Wednesday sued Deloitte for damages in a Dutch court, accusing the auditor of failures in the accounting scandal that brought the South Africa-based global retailer to the brink of collapse, the Financial Times reported. ...

Daily Headline - global.abi.org - 06/14/2018 - 00:07 - 0 comments

Steinhoff Shareholders Sue Deloitte for Damages

Shareholders in Steinhoff on Wednesday sued Deloitte for damages in a Dutch court, accusing the auditor of failures in the accounting scandal that brought the South Africa-based global retailer to the brink of collapse, the Financial Times reported. ...

Daily Headline - global.abi.org - 06/13/2018 - 23:53 - 0 comments

Supreme Court provides more clarity on the effect of a bankruptcy on contracts

Recently, the Dutch Supreme Court rendered a judgment in which it has given a detailed explanation of the effects of bankruptcy proceedings on a contract or other legal relationship.[1] The case in question involved a dispute between a bankruptcy trustee ...

Resource Article - twallace@abiwor... - 05/08/2018 - 12:27 - 0 comments - 0 attachments

Dutch government publishes new definition UBO | Nederlandse regering publiceert nieuwe definitie UBO

Dutch government publishes new definition of UBO On 6 April 2018 the Dutch Minister of Finance published an updated draft decree which contains the new definition of ultimate beneficial owners (UBOs) of companies and other entities (Uitvoerings-bes ...

Resource Article - twallace@abiwor... - 05/08/2018 - 12:26 - 0 comments - 0 attachments

Introduction of senior non-preferred debt in the Netherlands

The Netherlands legislature has published the legislative proposal to introduce 'senior non-preferred debt' in the Netherlands. It will implement the relevant EU Directive. The Directive and proposed implementing Act aim to facilitate the a ...

Resource Article - twallace@abiwor... - 05/08/2018 - 11:28 - 0 comments - 0 attachments

Country report from the Netherlands

The Dutch Minister’s announcement of a multi-disciplinary approach to combat bankruptcy fraud has lead to a legislative programme that went into force last year, wherein the duty of the trustee is extended to combat bankruptcy fraud. Attachme ...

Resource Article - twallace@abiwor... - 04/03/2018 - 10:48 - 0 comments - 1 attachment

Dutch Step Up Call for Eurozone Debt Writedown Rules

The Netherlands is demanding that private investors face mandatory debt writedowns in future eurozone bailouts, a position that will fuel arguments as countries spar over the next phase of integration in the single currency bloc. Wopke Hoekstra, the Dutc ...

Daily Headline - global.abi.org - 02/22/2018 - 00:01 - 0 comments

Etihad Scrambles to Shore Up $1.2 Billion Bonds Before Coupon Crunch

Etihad Airways is urgently examining ways to avert a technical default of some $1.2 billion in bonds indirectly linked to the Gulf airline, sources close to the situation told Reuters. An Amsterdam-based special purpose vehicle called SPV Equity Alliance ...

Daily Headline - global.abi.org - 02/01/2018 - 21:34 - 0 comments

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