Bankruptcy declared contrary to Dutch public order

This update discusses an issue that may arise in relation to the recognition of foreign bankruptcies where the law of the receiving state does not provide for admittance proceedings. This issue recently arose in the Yukos proceedings.

Facts

Filed under:
Netherlands, Insolvency & Restructuring, Litigation, NautaDutilh, Share (finance), Bankruptcy, Shareholder, Injunction, State-owned enterprise, Summary offence, Chief executive officer, Supreme Court of the Netherlands
Authors:
Robert van Galen
Location:
Netherlands
Firm:
NautaDutilh
New Insolvency Act proposal seeks to unify insolvency procedure

On November 1 2007 the State Commission for Insolvency Law presented the Preliminary Bill for an Insolvency Act to the minister of justice. The most important changes to the existing Bankruptcy Act are outlined in this update.

Filed under:
Netherlands, Insolvency & Restructuring, NautaDutilh, Wage, Bankruptcy, Legal personality, Debtor, Collateral (finance), Fraud, Accounts receivable, Debt, Liquidation, Debt restructuring, Title retention clause
Authors:
Robert van Galen
Location:
Netherlands
Firm:
NautaDutilh