The Dutch scheme – when can it be used, and by whom?

As mentioned in our earlier blog, the Dutch legislator has prepared a bill – the Act on confirmation of private restructuring plans (Wet homologatie onderhands akkoord) – which introduces a framework allowing debtors to restructure their debts outside formal insolvency proceedings (the “Dutch Scheme“). In our previous blog, we summarised the Dutch Scheme and explained that either (i) the debtor … Read more

The Dutch scheme – a summary of the upcoming new restructuring tool

As mentioned in our earlier blog, the Dutch legislator has prepared a bill – the Act on confirmation of private restructuring plans (Wet homologatie onderhands akkoord) – introducing a framework that allows debtors to restructure their debts outside formal insolvency proceedings (the “Dutch Scheme“). We expect this highly-anticipated bill to enter into force by this summer. The Dutch Scheme combines features … Read more

Dutch Supreme Courts decides that pledgees are entitled to execute security rights that are connected to a pledged claim (confirmation of Rabobank/Stormpolder)

On 18 December 2015, the Dutch Supreme Court rendered a judgment (ECLI:NL:HR:2015:3619) which is important for the Dutch banking practice. In its ruling, which concerned a matter between ABN AMRO Bank N.V. and Aannemersbedrijf Marell B.V., the Dutch Supreme Court held that a pledgee collecting a pledged claim is entitled to execute security rights that are connected to such claims. … Read more