In deze blog signaleren wij kort enkele belangwekkende bestuursrechtelijke en omgevingsrechtelijke uitspraken van de afgelopen periode.
Hoge Raad: regeling proceskostenvergoeding voor fiscale bezwaarprocedures mogelijk in strijd met discriminatieverbod (art. 1 Grondwet)
Contractor insolvencies are continuing in the construction industry in 2024. This follows recent challenges relating to supply chain issues, labour shortages, and increased material costs. Such challenges are part of the broader macroeconomic climate of high inflation and interest rates.
We outline below steps that a Principal can take at different stages of a project to mitigate the impact of Contractor insolvency on its project, and to protect its interests.
Key takeaways
Financial restructurings are becoming increasingly common in the current financial climate, also in the Netherlands. Since the implementation of the Dutch scheme of arrangement on 1 January 2021, a relatively new tool to restructure debts of Dutch corporate entities in order to prevent their insolvency is available in the Netherlands. Under the Dutch scheme of arrangement, a creditors composition is binding on all creditors if a sufficient number of (classes of) creditors vote in favour of the scheme. In principle, the preferential order of priority for secured creditors, e.g.
Our prediction
With New Zealand’s economy in recession, we predict an increase in insolvency-related disputes and litigation over next 12-months.
Why?
A variety of factors combine to give rise to the expected uptick in insolvency-related claims:
New Zealand needs to consider promoting passive overseas investment in developed assets. We are pleased to see that the New Zealand Government has signalled changes to allow for foreign investment in established build-to-rent developments (while still retaining the residential restrictions more generally).
The Dutch Supreme Court handed down a judgment (ECLI:NL:HR:2023:1751) on 15 December 2023 clarifying whether agreements entered into by a bankruptcy trustee with the approval of the supervisory judge can be affected by an application under Article 69 of the Dutch Bankruptcy Act (DBA).
De Tijdelijke wet transparantie turboliquidatie (“TWTT”) omvat de tijdelijke aanpassing van de wettelijke regeling omtrent turboliquidatie in Boek 2 BW en is gefaseerd in werking getreden op 15 november 2023. De maatregelen die zijn opgenomen in de TWTT zijn van tijdelijke aard en gelden in beginsel voor een periode van twee jaar na de inwerkingtreding, te weten tot 15 november 2025.
On 25 August 2023, in ECLI:NL:HR:2023:1135, the Supreme Court answered three legal questions relevant to the practice of setoff before and during bankruptcy or a suspension of payments. In this blog, we address the Supreme Court's decisions and consider the implications for legal practice.
The Supreme Court’s long awaited decision in Yan v Mainzeal Property and Construction Ltd (In Liq) offers some much needed clarity on directors’ duties in New Zealand. Our initial summary of the decision and its implications is here. This article provides a more detailed review of the state of directors’ obligations post-Mainzeal.
The long awaited Supreme Court decision on the Mainzeal appeal is out, addressing issues of “fundamental importance to the business community”. The judgment essentially upheld the factual findings of the lower Courts that the Mainzeal directors had breached directors’ duties under the Companies Act 1993, and it provides important clarity of the legal principles - and practical steps - that are relevant to directors of companies facing financial difficulties.
Important learnings