On October 8, 2016, China’s Ministry of Commerce (“MOFCOM”) published the Provisional Administrative Rules on Foreign-Invested Enterprises’ Establishment and Amendment(《外商投资企业设立及变更备案管理暂行办法》), effective immediately.

In a recent judgment the Dutch Supreme Court ruled that the holder (an "Estate Claim Pledgee") of a right of pledge (an "Estate Claim Pledge") which secures one or more estate claims (each, a "Secured Estate Claim") is entitled to satisfy such claims out of the proceeds resulting from enforcement of such right of pledge ("Estate Claim Pledge Enforcement Proceeds") during the pledgor's bankruptcy provided that the claims have arisen from a legal relationship having come into existence prior to the bankruptcy.

Dutch Supreme Court 15 April 2016 (ECLI:NL:HR:2016:665)

In a recent judgment, the Dutch Supreme Court ruled that a party who purchases and accepts the transfer of moveable assets subject to a retention of title acquires a right of conditional ownership with respect to those moveable assets and has the power to create an unconditional right of pledge over such right of conditional ownership.

Second Circuit Court of Appeals Decision in GM Cases Casts a Shadow Over Whether Section 363 Sale Orders Insulate Buyers from Debtors’ Product Liability Claims.

1. Inleiding

Dit is onze halfjaarlijkse nieuwsbrief over ontwikkelingen op het gebied van het Nederlandse vennootschaps- en ondernemingsrecht. In deze Corporate Update geven wij eerst een overzicht van enkele wetswijzigingen. Verder gaan we in op de stand van zaken van een aantal lopende wetsvoorstellen en tot slot signaleren wij nog enkele overige actualiteiten.

I. Introduction

On May 3, 2016 the Italian government approved Law Decree No. 59 (the “Decree”) which, inter alia, provides for new types of security and introduces streamlined in-court and out-of-court enforcement procedures. In addition, the Decree mandates the setting up of a centralized electronic register for security enforcement proceedings and insolvency and pre-insolvency restructuring proceedings. The Decree aims to facilitate financings and secondary debt transactions by reinforcing creditors’ rights and providing more flexible instruments to lenders and borrowers.

In the event of bankruptcy, creditors are entitled to disclosure of the bookkeeping of the estate under certain conditions. In its decision dated 8 April 2016 (ECLI:NL:HR:2016:612), the Dutch Supreme Court ruled that this right is limited and depends on the purpose of the disclosure. Creditors are not entitled to disclosure if the purpose is to retrieve information to support their claim against a third party.

Lease Assignment and Guarantees: Case Update and Recap

Summary

Al sinds 2004 schrijft de MiFID richtlijn voor dat dat beleggingsondernemingen financiële instrumenten (waaronder verhandelbare derivaten) veilig en bankruptcy remote moeten aanhouden voor hun cliënten. In 2005 bleek waarom: bij het faillissement van Van der Hoop Bankiers bleek dat beleggers geen aanspraak meer hadden op hun derivaten, maar concurrent schuldeiser van de bank waren geworden.

De Minister van Justitie beloofde daarop met wettelijke bescherming te komen. Die is er nu.

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