V&D gift cards, will its holders be left in the cold? On the last day of 2015 the District court of Amsterdam opened bankruptcy proceedings (‘faillissement’) against the Dutch retailer Vroom & Dreesmann (V&D). V&D is the largest and most historic Dutch department store chain, which entered the Dutch market in 1887 with a store in Amsterdam. It now has… Read More »2016-01-doc2 Gift cards and insolvent retailers
Courts and Computers, A Cosy Couple? Already on 26 June 2016 Article 86 of the EU Insolvency Regulation (EIR Recast), on information on insolvency laws, will apply. The EIR Recast itself will enter into force 26 June 2017. Article 86 (‘Information on national and Union insolvency law’) however is a forerunner. It will apply from 26 June 2016. What does… Read More »2015-12-14 Art. 86 EIR Recast will apply per 26 June 2016
The treatment of shareholders in the insolvency of companies is a current research project co-led by the Bank of Italy and the World Bank. Research areas are (1) Shareholders’ Liability for the Distress of the Company, (2) Shareholders’ Powers over the Management During Insolvency Proceedings, and (3) The Treatment of Shareholders in Reorganization Procedures. The initiative for this reseach was… Read More »2015-12-doc13 Shareholders and their position in insolvency
The numbers say that over 10,000 English limited companies (Ltd’s) operate in Germany. The company director is registered in the Companies register in England, but with a branch active in Germany, which is reistered in German company registers. On 10 December 2015 the Court of Justice of the European Union decided on the question whether the liability of the director… Read More »2015-12-doc11 CJEU 10 December 2015, C-594/14 (Kornhaas v Dithmar)
Forthcoming in: International Company and Commercial Law Review – [2016] ICCLR , Issue 2, a short review of: Rodrigo Olivares-Caminal (ed.), Expedited corporate debt restructuring in the EU, Oxford University Press 2015, LV + 800 pp. ISBN 9780198706502. £ 195. In Europe, insolvency law is a restless possession. Two decades ago international and national insolvency law looked like a solid… Read More »2015-12-doc9 Expedited corporate debt restructuring
Yesterday, Wednesday 9 december, Miss Yanying Li defended with success her dissertation Sovereign Debt Restructuring. Towards the Establishment of a Multilateral Legal Framework. The event took place in te Academy building University of Leiden. I acted as her supervisor (promotor). Miss Li (1987, born in Chongqing, China, with law degrees in China, the USA and from Leiden, and since a… Read More »2015-12-doc7 Sovereign Debt Restructuring
The Helsingin hovioikeus (Court of Appeal, Helsinki, Finland) referred several questions to the CJEU in a case between Nike European Operations Netherlands BV (‘Nike’, incorporated in the Netherlands) v Sportland Oy, in liquidation (‘Sportland’, incorporated in Finland), concerning an action to have certain transactions declared void by virtue of insolvency. Sportland was a retailer of goods supplied by Nike under… Read More »2015-12-doc3 CJEU 15 October 2015, C-310/14 (Nike BV v Sportland Oy)
Recently I have been appointed as member of a group of experts that will assist the European Commission in the preparation of a potential legislative proposal containing minimum standards for a harmonised restructuring and insolvency law in the EU. Virtually this position is a follow up of the consultancy position I held since mid 2012, advising the European Commission in… Read More »2015-12-doc1 Counsel to the European Commission on restructuring and insolvency law
Last Monday, I received the sad news that Harvey Miller had passed away. He was 82. Undoubtedly, Harvey Miller is one of the giants in bankruptcy practice in the USA. With a short period outside the firm, he has been a partner of Weil Gotshal & Manges for close to 50 years. Harvey Miller was one of the first partners… Read More »2015-04-doc9 Passing of Harvey Miller