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On 27 August 2019, the Dutch Minister for Legal Protection (‘Rechtsbescherming’) did send his 11th letter on progress concerning several acts for the overall recast of the Dutch Bankprty Act to Dutch Parliament. On the 5th and last page it introduces the subject ‘International insolvencies’. The following is provided, I quote: ‘An insolvency adjudicated outside the European Union is in… Read More »2019-08-doc4 Netherlands puts ‘international insolvencies’ back on legislative agenda

In June 2019, INSOL International released its ‘Ethical Principles for Insolvency Professionals’. Ethics is about the values that should be lived and worked by and respected by all insolvency professionals while interacting with creditors, judges, consumers of the debtor, its board or shareholders. Ethics is nothing scary, a threatening term for being wary for all types of misconduct and liabilities.… Read More »2019-08-doc3 Insolvency practitioners and ethics

In the matter of Syncreon Group B.V. (and ors) the English High Court on 31 July 2019 ([2019] EWHC 2068 (Ch)) (see my blog of yesterday at blog/2019-08-doc1-scheme-of-arrangement-does-english-court-has-jurisdiction-re-dutch-b.v) a final matter for Falk J to decide relates to the question who will act as the foreign representative. The parties requested the judge to include in the order to be given… Read More »2019-08-doc2a Scheme of arrangement – who is the foreign representative (+ text)

In the matter of Syncreon Group B.V. (and ors) the English High Court on 31 July 2019 ([2019] EWHC 2068 (Ch)) presented its written reasons for granting an application by Syncreon Group to convene meetings of certain classes of creditors for the purpose of considering a scheme of arrangement. Syncreon Group is a private limited company incorporated under the laws… Read More »2019-08-doc1 Scheme of arrangement – Does English court has jurisdiction re Dutch B.V.?

Legislative developments in the Netherlands The Dutch Bankruptcy Act (DBA) first entered into force in 1896. Over the first 100 years amendments were made over the years, the rules governing bankruptcy liquidation fundamentally remained the same. In 1998 special rules to deal with debt restructuring of natural persons have been included. Early 2000, eight years after the entry into force… Read More »2019-07-doc1 Insolvency – Legislative developments in the Netherlands

Soft law instruments are increasingly prevalent in the area of procedural and substantive restructuring and insolvency law. These instruments, all embodied in legally non-binding texts, originate from so-called standard-setting organisations, such as the United Nations Commission on International Trade Law (UNCITRAL) Working Group V (Insolvency) and the World Bank, as well as mainly insolvency practitioners’ organisations, such as INSOL International… Read More »2019-06-doc1 Soft law instrumentst in insolvency/restructuring law

With Gert-Jan Boon, PhD researcher and lecurer at Leiden University, I wrote ‘Soft law instruments in restructuring and insolvency law: exploring its rise and impact, published in the TvOB (Law review on company law and corporate governmant and management, published by Paris publishers in the Netherlands) 2019, nr. 2 (May 2019). In our aticle we provided an overview of the… Read More »2019-05-doc2 Soft law restructuring and insolvency instruments