Article from INSOL Europe (Week 23 - 29 March 2015) GlobalINSOLvency Editorial Board

On 30 October the ‘Pier of Scheveningen’ was sold to DE PIER B.V., a consortium made of the building company Kondor Wessels and the easyHotel franchise holder for the Benelux Danzep. The sale took place almost two years after the former owner of the iconic Dutch sea-side landmark was declared bankrupt. The buyer aims to re-open the ‘Pier of Scheveningen’ for the public early 2015. With the sale of the Pier a new chapter in the evolving story around one of The Netherlands’ most famous landmarks begins. Time to look back on the past chapter: from bankruptcy to sale, careful to find the right buyer, while keeping in mind the creditors' interest and the expectations of the public. Former owners of the Pier, the limited liability companies ‘De Scheveningsche Pier Vastgoed B.V.’ and ‘De Scheveningsche Pier Exploitatie B.V.’, were declared bankrupt by the District Courts of The Hague and Amsterdam in January 2013. Marc Udink (Udink & De Jong Advocaten) was appointed by the Courts as receiver in bankruptcy. The two bankrupt companies respectively owned and operated the landmark ‘Pier of Scheveningen’. An enormous concrete structure covering about 25,000 m2 and stretching 380 metres into the sea (recently voted one of ten most beautiful piers in the world due to its scale and unusual concrete structure).
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