Netherlands, Insolvency & Restructuring, Litigation, NautaDutilh, Bankruptcy, Sole proprietorship, Insolvency Act 1986 (UK), Supreme Court of the Netherlands
On 13 June 2012 the Financial Institutions (Special Measures) Act (Wet bijzondere maatregelen financiële ondernemingen; "Intervention Act") entered into force with retro-active effect as of 20 January 2012). The Intervention Act includes new powers for the Netherlands Central Bank ("DNB") to procure that a bank or insurer which is experiencing serious financial problems is transferred, in whole or in part, to a third party.