In a recent case, the Court of Appeal of Arnhem-Leeuwarden dismissed a claim of the bankruptcy trustee of Welsec against an audit firm for failing to ensure that the audited company, Welsec, included a provision in its annual accounts for a third party claim (ECLI:NL:GHARL:2020:2492).
European Union, Netherlands, Banking, Insolvency & Restructuring, Litigation, Stibbe, Board of directors, Deloitte
Proposed changes in Italian law mean that it should become easier to create certain types of security in Italy and to recover debt. The relevant law is Decree-law no. 59/2016 (“Urgent provisions on insolvency and executive procedures’’) which came into force on 4 May 2016 and which should be converted into binding law by early July.
The main changes introduced by the Decree are as follows:
Italy, Banking, Insolvency & Restructuring, King & Wood Mallesons, Debtor, Debt, Personal property, Default (finance), Secured loan