A recent insolvency law case in the Dutch Supreme Court could have serious consequences for software licensees faced with a bankrupt supplier or licensor. The effect of the judgment may be to render traditional software escrow agreements insufficient and to require additional protective measures.
Summary
Netherlands, Insolvency & Restructuring, IT & Data Protection, Litigation, Bird & Bird LLP, Bankruptcy, Debtor, Leasehold estate, Interest, Vacated judgment, Trustee, Supreme Court of the Netherlands
Spanish insolvency law has been modified recently by Act 22/2003. This is the culmination of a long process aimed at including in Spanish Law an insolvency law that will rectify the failures of previous legislation and create a law that fits in with social, economic and legal reality. In order to incorporate the criminal sanctions available against insolvent companies, this Act has also modified various articles of the Penal Code.
Spain, Insolvency & Restructuring, White Collar Crime, Bird & Bird LLP, Bankruptcy, Debtor, Debt, Economy, Criminal code