Shareholders in Steinhoff on Wednesday sued Deloitte for damages in a Dutch court, accusing the auditor of failures in the accounting scandal that brought the South Africa-based global retailer to the brink of collapse, the Financial Times reported. VEB, the Dutch investor rights group, said it brought the lawsuit in the Rotterdam district court as Deloitte had “seriously failed in its statutory task as auditor” by giving an unqualified audit to Steinhoff before the owner of the UK’s Poundland and Mattress Firm in the US revealed a black hole of more than €5bn in its accounts.

Shareholders in Steinhoff on Wednesday sued Deloitte for damages in a Dutch court, accusing the auditor of failures in the accounting scandal that brought the South Africa-based global retailer to the brink of collapse, the Financial Times reported. VEB, the Dutch investor rights group, said it brought the lawsuit in the Rotterdam district court as Deloitte had “seriously failed in its statutory task as auditor” by giving an unqualified audit to Steinhoff before the owner of the UK’s Poundland and Mattress Firm in the US revealed a black hole of more than €5bn in its accounts.

The Netherlands is demanding that private investors face mandatory debt writedowns in future eurozone bailouts, a position that will fuel arguments as countries spar over the next phase of integration in the single currency bloc. Wopke Hoekstra, the Dutch finance minister, said imposing haircuts on private creditors was “essential” to protect eurozone taxpayers from paying to rescue bankrupt governments and introduce greater market discipline on high debt economies, the Financial Times reported. “It is essential if things go wrong.

Etihad Airways is urgently examining ways to avert a technical default of some $1.2 billion in bonds indirectly linked to the Gulf airline, sources close to the situation told Reuters. An Amsterdam-based special purpose vehicle called SPV Equity Alliance Partners (EAP) was set up in 2015 and issued two bonds for Etihad and other airlines it partially owned at the time, including Alitalia and Air Berlin, which are both now insolvent, the International New York Times reported on a Reuters story.

Dutch tidal turbines developer Tocardo International BV has filed for insolvency the same day it became official that Canada’s Tribute Resources Inc will not buy out the company, Renewables Now reported. Tocardo has secured a deferral of payment to creditors. A creditors meeting will be held on March 27, 2018. In early August 2017, Canadian energy company Tribute Resources unveiled its intention to buy the 53.5% stake it does not already own in Tocardo and focus on tidal and marine power development. The plan included changing Tribute’s name to Tocardo Energy Inc following the combination.

Embattled billionaire Patrick Drahi sought to shore up the plunging stock price at Altice NV, the phone and cable company weighed down by $50 billion in debt, assuring investors he won’t sell new shares to raise cash, Bloomberg News reported. “Altice confirms that it is not in preparation of a cash raising by means of an equity or equity-linked issuance and has no intention to pursue such action within the group including Altice USA,” the Amsterdam-based company said in a statement published at 12:30 a.m. Monday.

A court in the Netherlands on Thursday decided that two subsidiaries of debt-laden Brazilian phone carrier Oi SA would not start bankruptcy proceedings, the company said in a securities filing. The filing confirmed a Reuters report that Oi Brasil Holdings Coöperatief UA and Portugal Telecom International Finance BV, would remain operating under "suspension of payments" legal status.

A court in the Netherlands on Thursday postponed until Feb. 2 a decision on whether to enforce bankruptcy proceedings against two subsidiaries of phone carrier Oi SA, which is under creditor protection in Brazil, said two sources briefed on the matter who were not authorized to discuss it publicly, Reuters reported. The ruling was expected to be made on Thursday, according to a statement from Oi on Jan. 12. One of the sources said the reasons for the delay were unclear. The second source declined to elaborate.

Spanish police arrested prominent Dutch corporate lawyer Peter Wakkie at Madrid airport on Monday in an investigation into the insolvency of Russian-Spanish telecom firm ZED+, a judicial source said, Reuters reported. A spokesman for Wakkie, who is ZED+'s interim manager, said he could not immediately comment on the arrest at Barajas Airport after a flight from the Netherlands, where the company is domiciled.

ABN Amro Group NV could eliminate more than 1,000 jobs as the Dutch bank ramps up a restructuring plan designed to reduce costs, The Wall Street Journal reported. ABN Amro said Monday in a letter to its works council that it is considering scrapping 975 to 1,375 jobs in the next couple of years, a move that would reduce annual costs by €195 million ($219 million) to €225 million. The bank, which is controlled by the Dutch government, employs around 22,000 people worldwide. The bank had already hinted at job losses when it presented its second-quarter results in August.