On 29 September 2020, the Dutch Senate’s justice committee decided that the Dutch Scheme bill can be dealt with as a formality (hamerstuk) without further debate. It did so after the Dutch Government submitted to the Dutch Senate’s justice committee its memorandum of reply (Memorie van Antwoord) regarding the Dutch Scheme, or to use the full title: the Act on confirmation of private restructuring plans (commonly referred to as the WHOA, after its Dutch acronym). This blog highlights the various topics covered in the memorandum of reply.

On 9 July 2013 a new law amending the Code of Commerce was enacted in Luxembourg (the “Law”). The Law introduces the right for a depositor to claim the recovery of intangible and non-fungible (i.e., identifiable and separable) goods from a bankrupt company. The parliamentary file aims clearly at including data from a bankrupt cloud computing service provider. The Law sets forth the different conditions to be fulfilled for the entitlement to claim intangible and non-fungible goods from a bankrupt company: