The amendment to the Business Corporations Act effective from 1 January of this year (the "Amendment") brings, among other things, a significant change in the liability of members of a statutory body, which will affect the current topic of insolvency.
Members of a statutory body may now be liable in the event of insolvency for a much wider range of misconduct than was the case until the end of 2020. And not only them. The Amendment explicitly widens the range of persons to whom the new liability rules will apply.
1. Introduction
Editorial | CEE
On 1 January 2021, the Act on confirmation of private restructuring plans (Wet homologatie onderhands akkoord, the “Dutch Scheme“) came into effect. At time of writing (25 February 2021), the Dutch courts have rendered 10 judgments in connection with the Dutch Scheme. This blog provides you with the highlights of this case law.
1. General observations
Am 23.02.2021 wurde der lang erwartete Entwurf der Restrukturierungsordnung veröffentlicht. Mit dem Entwurf soll die Richtlinie (EU) 2019/1023 (RestrukturierungsRL) in Österreich umgesetzt werden.
Der Entwurf in 5 Fragen
Warum?
Erleichterung der Sanierung durch Möglichkeit einer gerichtlich bestätigten Mehrheitsentscheidung der Gläubiger.
Wer?
1.1 Corona Relief Fund (for more details check out our legal insight)
Status as of 17/02
Table of Content
- 1 Financial Support Measures
- 2 Capital Markets
- 3 Employment
- 4 Real Estate & Construction
- 5 Tax & Duties
- 6 Corporate, M&A
- 7 EU & Competition
- 8 Courts and Authorities
- 9 Healthcare
- 10 Insolvency & Restructuring
- 11 Insurance
- 12 Intellectual Property
- 13 Telecom & Data Protection
- 14 Other
1 Financial Support Measures
The Act on confirmation of private restructuring plans (Wet homologatie onderhands akkoord) – which introduces a framework allowing debtors to restructure their debts outside formal insolvency proceedings (termed the “Dutch Scheme“) – was adopted by the Dutch Senate on 6 October 2020 and will enter into force on 1 January 2021.
The Act on confirmation of private restructuring plans (Wet homologatie onderhands akkoord) – which introduces a framework allowing debtors to restructure their debts outside formal insolvency proceedings (the “Dutch Scheme“) – was adopted by the Dutch Senate on 6 October 2020 and will enter into force on 1 January 2021.
Status as of 3/11 11:40 am CET
Table of content