The Dutch Supreme Court on 11 July 2014 handed down a decision that improves the position of licensees in case of bankruptcy of a Dutch licensor, and of other parties deriving a right of use from a Dutch counterparty that goes bankrupt.
A pre-pack is the term used for the restructuring of a company through a transaction that is prepared as much as possible outside of formal insolvency proceedings, and whereby the enterprise survives but some or all of the company's debt is restructured. The aim of preparing the transaction in advance is to ensure the maximum preservation of value. Several structures can be distinguished.
There has recently been a number of successful pre-pack restructurings in the Netherlands. A 'pre-pack' is the term used for the restructuring of a company through a transaction that is prepared as much as possible outside formal insolvency proceedings, and whereby the enterprise survives, but some or all of the company's debt is restructured. The aim of preparing the transaction in advance is to ensure maximum preservation of value. Several structures can be distinguished.
In a ground-breaking decision, the Dutch Supreme Court recently found that a foreign bankruptcy trustee may in principle exercise the powers conferred on him under the lex concursus (the law governing the bankruptcy) in the Netherlands as well. Such powers can include the management and disposal of assets located in the Netherlands at the time of the foreign bankruptcy order.
Sanctioning of LBT Composition Plan Becomes Final
Afdeling bestuursrechtspraak van de Raad van State 13 februari 2013, LJN: BZ1261
In haar uitspraak van 13 februari 2013 heeft de Afdeling bestuursrechtspraak van de Raad van State (de "Afdeling") uitleg gegeven over de positie van een curator bij naleving van de voor een inrichting geldende milieuwetgeving.
Recently the Minister of Justice issued a draft bill which, if enacted, will introduce a directorship disqualification order under civil law. The bill is open for consultation until 31 May 2013.
After a company has been declared bankrupt, the liquidator in charge of the bankrupt estate will process personal data on that bankrupt company’s behalf. The liquidator would then be considered a so-called data controller within the meaning of the Dutch Data Protection Act (DDPA).
A Dutch Court of Appeal recently upheld a lower court’s decision that a liquidator has the right to access data concerning the administration of a bankrupt company, the data of which are kept by a third party. It also held that this right, however, does not imply that the third party must provide the data in an orderly manner without being adequately compensated for it.