A pre-pack is the term used for the restructuring of a company through a transaction that is prepared as much as possible outside of formal insolvency proceedings, and whereby the enterprise survives but some or all of the company's debt is restructured. The aim of preparing the transaction in advance is to ensure the maximum preservation of value. Several structures can be distinguished.
There has recently been a number of successful pre-pack restructurings in the Netherlands. A 'pre-pack' is the term used for the restructuring of a company through a transaction that is prepared as much as possible outside formal insolvency proceedings, and whereby the enterprise survives, but some or all of the company's debt is restructured. The aim of preparing the transaction in advance is to ensure maximum preservation of value. Several structures can be distinguished.
In a ground-breaking decision, the Dutch Supreme Court recently found that a foreign bankruptcy trustee may in principle exercise the powers conferred on him under the lex concursus (the law governing the bankruptcy) in the Netherlands as well. Such powers can include the management and disposal of assets located in the Netherlands at the time of the foreign bankruptcy order.
Dutch insolvency practice is increasingly looking for possibilities to effectively restructure failing companies rather than liquidate them in order to safeguard creditors’ interests, and preserve jobs and economic activity. In line with international developments, pre-packs are on the rise and consultation on a bill to regulate pre-packs is currently on-going.
De Hoge Raad heeft recent uitgesproken dat bij het stellen van zekerheid in het kader van het aangaan van een nieuwe kredietrelatie geen bewijsvermoeden geldt dat betrokken partijen wetenschap van benadeling hadden. Dit maakt het in beginsel niet eenvoudig een dergelijke zekerheidsstelling te vernietigen op grond van de faillissementspauliana.
Die Einführung des “Pre-Packs”, ohne gesetzliche Grundlage, die Krise wartet (eben) nicht auf die Regierung.
Einleitung
Afdeling bestuursrechtspraak van de Raad van State 13 februari 2013, LJN: BZ1261
In haar uitspraak van 13 februari 2013 heeft de Afdeling bestuursrechtspraak van de Raad van State (de "Afdeling") uitleg gegeven over de positie van een curator bij naleving van de voor een inrichting geldende milieuwetgeving.
Recently the Minister of Justice issued a draft bill which, if enacted, will introduce a directorship disqualification order under civil law. The bill is open for consultation until 31 May 2013.
After a company has been declared bankrupt, the liquidator in charge of the bankrupt estate will process personal data on that bankrupt company’s behalf. The liquidator would then be considered a so-called data controller within the meaning of the Dutch Data Protection Act (DDPA).