On 15 December 2025, the Dutch Council of State (CoS; in Dutch: Raad van State) issued a critical opinion on the draft bill on transfer of undertaking in bankruptcy (In Dutch: Wet overgang van onderneming in faillissement, the WOVOF).
On 21 March 2025, the Dutch Supreme Court ruled that a taxpayer is allowed to deduct a liquidation loss on its participation in a liquidated subsidiary that transferred losses to group companies under the Irish group relief regime in the years prior to the liquidation. This Supreme Court judgment provides a favorable outcome for taxpayers.
Background
Judge Parker of the U.S. Bankruptcy Court for the Western District of Texas recently issued an order in the case of Hilltop SPV, LLC, granting debtor Hilltop SPV LLC’s (“Hilltop”) motion to reject a Gas Gathering Agreement (“GGA”) with counter-party Monarch Midstream, LLC (“Monarch”).[1] This decision allows Hilltop to reject the GGA while allowing Monarch to retain the covenants that run with the land post-rejection.
Harrington v. Purdue Pharma L.P., 144 S. Ct. 2017 (June 27, 2024)
With the increase in global trade and business, often involving complex corporate structures in multiple jurisdictions, we expect to see a significant increase in cross-border insolvency and restructuring matters in coming years. This is especially the case with rapid advancements in technology and digital change driving “borderless” transactions and investments in every industry.
A March 8 2016 decision of the influential Bankruptcy Court for the Southern District of New York has attracted attention from – and caused concern for – owners of pipelines and other midstream assets, as well as lenders to midstream and upstream lenders across the United States.
Most due diligence processes in a business acquisition context require a review of material contracts and, in particular, a review of any restrictions on assignment of those contracts.
When a business enters into a long term commercial contract with a customer, the identity of that particular counterparty may influence the terms of the contract. A party deemed more favourable may obtain a better price or better terms. Unless restricted by enforceable anti-assignment provisions, these favourable contracts can be very valuable in a traditional M&A context.