The Dutch Bankruptcy Act (Faillissementswet) first came into force on 1 September 1896, making it relatively old for a Bankruptcy Act. In 2011 the legislator decided that a new draft of the Dutch Bankruptcy Act was not a priority and there was no need to adopt amendments. Surprisingly, the Dutch legislator announced in 2013 that a new bankruptcy law was in fact necessary and that the “continuity of companies” was a priority.

EUROPEAN UPDATE: Switzerland: More Restructuring-Friendly Insolvency Law (Citation: Adam Gallagher and Ueli Huber, Switzerland: More Restructuring-Friendly Insolvency Law, XXXIII ABI Journal 7, 32-33, 77-78, July 2014) - Adam Gallagher and Ueli Huber

Birgit Sambeth Glasner and Florence Pastore describe the key features of the new restructuring laws which have recently come into force.

For the benefit of our clients and friends investing in European distressed opportunities, our European Network is sharing some current developments.

By Louise Verrill and Paul Durban (Brown Rudnick LLP) Overview The financial crisis has thrown into sharp relief the limited scope of resolution tools to deal with failing financial institutions in Europe. Despite the fact that bank insolvency law is an important part of the European Union (EU) regime, the EU has faced hurdles and delays over the years in agreeing on a set of common principles.

For the benefit of our clients and friends investing in European distressed opportunities, our European Network is sharing some current developments.

The European Commission in Brussels engaged in the reform of the European Insolvency Regulation in 2012. The goal of the reform was to adapt the Insolvency Regulation to the changes that had occurred over the last 10+ years and to strengthen the rescue culture in Europe. The Commission was unhappy however that the European Insolvency Regulation was limited to cross border insolvencies.

Has Europe turned the corner? Is the euro crisis over? And what about Spain? Is the Spanish economy definitely on the mend? The answer to these questions is a cautious but unquestionable yes.

EUROPEAN UPDATE: Pension Trustees' "Loan-to-Own" Strategy: A Growing Trend? (citation: Adam Gallagher, Julia Chirnside and Dawn Heath, Pension Trustees’ “Loan-to-Own” Strategy: A Growing Trend?, XXXIII ABI Journal 5, 36-37, 111-12, May 2014) - Dawn Heath, Julia Chirnside, Adam Gallagher

THE INTERNATIONAL SCENE: Qimonda: Patent Protections Upheld in Cross-Border Case (citation: Dylan G. Trache and John T. Farnum, Qimonda: Patent Protections Upheld in Cross-Border Case, XXXIII ABI Journal 3, 54-55, 91, March 2014) - Dylan G. Trache and John T. Farnum