Netherlands

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Tocardo Falls Into Receivership After Failed Buyout by Tribute

Dutch tidal turbines developer Tocardo International BV has filed for insolvency the same day it became official that Canada’s Tribute Resources Inc will not buy out the company, Renewables Now reported. Tocardo has secured a deferral of payment to credi ...

Daily Headline - global.abi.org - 01/03/2018 - 23:12 - 0 comments

New Draft Bill seeking to introduce Pre-Insolvency Proceedings in The Netherlands

On 5 September 2017, the Dutch government published a new draft bill seeking to introduce pre- insolvency proceedings in the Netherlands, report Michael Veder and Nicolaes Tollenaar of RESOR. “By way of short summary, the intended procedure will be v ...

Resource Article - twallace@abiwor... - 12/21/2017 - 09:29 - 0 comments - 1 attachment

Benchmark Regulation into force as of January 2018

As from January 2018, the Benchmark Regulation will enter into force. The Benchmark Regulation introduces requirements for benchmarks administrators and contributors, but also for users of a benchmark, such as: 1. banks 2. investment funds 3. inv ...

Resource Article - twallace@abiwor... - 12/07/2017 - 10:24 - 0 comments - 0 attachments

The Netherlands Report: The legislative programme ‘Recalibration of Bankruptcy Law

In November 2012 the Dutch legislator launched the legislative programme ‘Recalibration of Bankruptcy Law’. This legislative programme steadily makes progress and is based on three pillars: (i) enhancing the possibilities for corporate restructuring, (ii ...

Resource Article - twallace@abiwor... - 12/07/2017 - 10:08 - 0 comments - 1 attachment

Altice Says It Has No Plan to Raise Cash Through Equity Sale

Embattled billionaire Patrick Drahi sought to shore up the plunging stock price at Altice NV, the phone and cable company weighed down by $50 billion in debt, assuring investors he won’t sell new shares to raise cash, Bloomberg News reported. “Altice con ...

Daily Headline - global.abi.org - 11/20/2017 - 23:45 - 0 comments

The Czech Republic Report: Creditors with secured contingent and future claims have gained more certainty

On 1 July 2017, an extensive amendment to the Insolvency Act shall take effect. The amendment brings several substantial changes to a number of aspects pertaining to insolvency proceedings, including security of future or contingent claims (including ...

Resource Article - twallace@abiwor... - 11/08/2017 - 10:20 - 0 comments - 1 attachment

Senior management responsibility in banks

Regulators have made clear their view that responsibility for the culture of a bank sits at the top; if senior management create the right culture, good regulatory practice and procedures will naturally follow. Following the financial crisis banks’ s ...

Resource Article - twallace@abiwor... - 11/08/2017 - 09:02 - 0 comments - 0 attachments

VAT exemption for cost-sharing groups no longer applicable to financial and insurance sectors

On 21 September 2017 the European Court of Justice ("ECJ") held in the DNB Banka (C-326/15) and Aviva (C-605/15) cases that the VAT exemption for cost-sharing groups does not apply to cost-sharing groups or other cooperative arrangements whose ...

Resource Article - twallace@abiwor... - 09/28/2017 - 08:19 - 0 comments - 0 attachments

Large-scale survey brings order to UBO chaos

Of the European countries which intend to implement the Fourth EU Anti-Money Laundering Directive, only Germany, the UK and Denmark met the 26 June 2017 deadline for the introduction of a register containing information about ultimate beneficial owners o ...

Resource Article - twallace@abiwor... - 09/13/2017 - 08:29 - 0 comments - 0 attachments

European Data Protection Conference

Our 5th annual European Data Protection Conference will take place on Tuesday 3 October in London, Wednesday 4 October in Paris, Thursday 5 October in Frankfurt and Tuesday 10 October in Amsterdam. The half day sessions will run from 08:30 for registra ...

Resource Article - twallace@abiwor... - 08/30/2017 - 12:55 - 0 comments - 0 attachments

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