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.

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.

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.

Waterside Management Company Limited v Brendan Kelly and Asta Kelly^[1]

Introduction
Facts
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Introduction

Introduction
Separable assets
Exercising data recovery right
Other applications
Comment

Introduction

Le 11 juin 2013, la Chambre des députés luxembourgeoise a voté une loi instaurant un droit de revendication en faveur de la personne qui a confié des biens meubles "incorporels" non fongibles à une entreprise qui est tombée en faillite (le dossier parlementaire peut être téléchargé ici). Il ressort des travaux préparatoires qu'une des hypothèses visées est la revendication de données et fichiers stockés via une solution "cloud" (informatique dématérialisée) chez un prestataire tiers.

On 11 June 2013, the Luxembourg Chamber of Deputies voted in favour of a law introducing a right to claim back "intangible" and non-fungible movable assets from a bankrupt company (the parliamentary file can be downloaded

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Introduction

In a long awaited landmark judgment, The European Court of Justice has today found in favour of ten former Waterford Crystal workers who alleged the Irish State had failed in their obligations to correctly implement European Directive 2008/94EC ('The Directive’) on the protection of employees in the event of the insolvency of their employer.