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Global Restructuring Review

2024-05-doc3 The US-approved Mercon ‘New Protocol and the Dutch Court / Part Two

Two weeks ago I published ‘The US-approved Mercon protocol and the Dutch courts / Part One’, see https://bobwessels.nl/blog/2024-04-doc3-the-us-approved-mercon-protocol-and-the-dutch-courts-part-one/. It was the text of my column of some 4 or 5 weeks earlier in Global Restructuring Review (GRR), the world’s only daily news and analysis service on cross-border restructuring and insolvency law. See https://globalrestructuringreview.com/. As a refresher, Mercon Coffee Corporation and… Read More »2024-05-doc3 The US-approved Mercon ‘New Protocol and the Dutch Court / Part Two

2023-06-doc3 Spanish banks beware of insolvent Dutch nationals with holiday homes!

Intro. A recent Dutch court case provides a Spanish bank (with a secured claim) an expensive lesson when dealing with the bankrupt Dutch owners of a Spanish holiday home. The bank collaborated in the sale and transfer of title of the holiday home in Spain owned by the two Dutch nationals, without permission from their IP appointed in the insolvency… Read More »2023-06-doc3 Spanish banks beware of insolvent Dutch nationals with holiday homes!

2023-05-doc1 Observing the WHOA observer

On 6 April 2023, Steinhoff International Holdings NV (SIHNV) announced that the Amsterdam District Court had appointed both Frédéric Verhoeven, a partner at Houthoff, and Willem Meijer, founder of Mediation Kamer Amsterdam, as observers (“observator”) in connection with its draft restructuring plan. Steinhoff’s plan is covered by the Dutch Wet homologatie onderhands akkoord or Act on the confirmation of a… Read More »2023-05-doc1 Observing the WHOA observer

2023-02-doc1 Russia sanctions impacting insolvencies

I wil discuss how Russia sanctions have permeated a Dutch insolvency and I will make a case for a pan-European approach towards the impact of public law measures on insolvency law. ATB case. The case at hand concerns Amsterdam Trade Bank NV (ATB), which operates out of the Netherlands and has 23,000 private account holders. The bank has Russian connections… Read More »2023-02-doc1 Russia sanctions impacting insolvencies

2023-01-doc1 COMI and ascertainability by third parties

The English Court of Appeal’s decision in East-West Logistics v Melars Group (East-West Logistics Llp v Melars Group Ltd [2022] EWCA Civ 1419 of 28 October 2022 draw my attention, especially by the concurring view of one of the judges, Lord Justice Lewison. Lord Justice Lewison is known to me from the famous Stanford International Bank case of 2009, which… Read More »2023-01-doc1 COMI and ascertainability by third parties

2022-11-doc4 Towards a review of the Dutch IP profession

The EU (without Denmark) is an economic market, with 27 member states. All these states have their own national insolvency system. In this whole European region there are presently around 120 types of national insolvency proceeding, which is around 4.5 per member state. As examples: Belgium lists eight proceedings (in Dutch and in French), Estonia two, Ireland no less than… Read More »2022-11-doc4 Towards a review of the Dutch IP profession

2022-02-doc1 European Insolvency Law: the year ahead

In the first decade of this century, in European insolvency law the H-word was on the list of banned terminology. In 2011 the ice had been broken by the European Parliament (EP). It was assisted in its decision via a group of reports from mainly practitioners gathered in INSOL Europe, European’s largest insolvency practitioners’ group. The EP gave its go-ahead… Read More »2022-02-doc1 European Insolvency Law: the year ahead

2021-12-doc11 Judicial cross-border cooperation goes digital!

On the first of December the European Commission published a proposal for a Regulation by the European parliament and the Council ‘… on the digitalisation of judicial cooperation and access to justice in cross-border civil, commercial and criminal matters, and amending certain acts in the field of judicial cooperation’. See COM(2021) 759 final. One of the many acts is the… Read More »2021-12-doc11 Judicial cross-border cooperation goes digital!

2021-12-doc4 In 2022 the EU takes a new step in harmonizing corporate insolvency

Last week in November 2021, the EU Commission published a Communication with a set of intended measures, responding to a number of action points identified under its Capital Markets Union (CMU) 2.0 Action Plan. This Plan was published in September 2020. See COM(2021) 720 final. The Commission wishes to tackle problems across a broad range of capital market services to… Read More »2021-12-doc4 In 2022 the EU takes a new step in harmonizing corporate insolvency

2021-08-doc1 Brazil’s first ‘Model Law’ judgment: Prosafe SE

Until recently bankruptcy law in Brazil did not contain provisions on international insolvency law. The country is a party to the Code of Bustamante of 1928, concluded between 15 Latin and Middle American States, but this regional framework has not been applied often. Renewed Brazilian bankruptcy law, in force since the first decade on this century, did not contain international… Read More »2021-08-doc1 Brazil’s first ‘Model Law’ judgment: Prosafe SE