Corporate Restructuring

Inside Stibbe - As of 1 January 2020, David Orobio de Castro, Michael Molenaars and Job van Hooff will form the new board of Stibbe in Amsterdam. David Orobio de Castro has been on the board of Stibbe since 2016 and succeeds Derk Lemstra as managing partner. After a period of six years on the board, Derk will once again fully focus on advising clients in the field of corporate law.

Short Reads - The Council of the European Union adopted a proposal for a Directive on restructuring and insolvency (2016/0359 (COD) on 6 June 2019. The Directive will enter into force twenty days after it is published in the Official Journal of the European Union. From that date, Member States will have two years to implement the substantive parts of the Directive in their national legislation, although a one year extension can be granted.

Inside Stibbe - Stibbe reinforces its Luxembourg office with the appointment of Vanessa Schmitt (Corporate & Finance), Olivier dal Farra (Tax), and Frédéric Pilorget (Corporate & Finance) as Counsel. The new appointments have taken effect in April and allow Stibbe to further strengthen its Luxembourg tax and corporate and finance teams to continue to respond to market needs.

Articles - Job van Hooff bespreekt aan welke voorwaarden moet zijn voldaan voor afkoop van een levensverzekering door een curator. Dit geschiedt mede aan de hand van een arrest van de Hoge Raad van 6 oktober 2017, waarin de Hoge Raad één van de geldende voorwaarden heeft verduidelijkt.

Articles - Stibbe’s managing partner Wouter Ghijsels shares his insights on the next generation of lawyers and the future of the legal profession at the occasion of the Leaders Meeting Paris where Belgian business leaders, politicians and inspiring people from the cultural and academic world will discuss this year's central theme "The Next Gen".

Articles - Does the legislative framework in your jurisdiction allow for informal work-outs, as well as formal restructuring and insolvency proceedings, and to what extent are each of these used in practice? What formal rescue procedures are available in your jurisdiction to restructure the liabilities of distressed companies? What effect does each restructuring procedure have on existing contracts? How are the creditors and/or shareholders able to influence each winding up process. 

Inside Stibbe - Stibbe renforce son cabinet au Luxembourg avec la nomination de Vanessa Schmitt (droit des sociétés et droit financier), Olivier dal Farra (droit fiscal) et Frédéric Pilorget (droit des sociétés et droit financier) en tant que Counsel. Ces nouvelles nominations ont pris effet au mois d’avril et permettent à Stibbe de renforcer davantage son équipe luxembourgeoise en droit fiscal ainsi qu’en droit des sociétés et droit financier afin de continuer à répondre aux besoins du marché.

Short Reads - On 29 March 2017, Advocate General Mengozzi rendered his opinion to the EU Court of Justice in the landmark case regarding the Estro pre-packed bankruptcy. Advocate General Mengozzi opines that a pre-pack does not fall under the exception to the EU Directive on transfer of undertakings, so that all rights and obligations of employees of the bankrupt transferor of an undertaking are automatically transferred to the transferee in case of a sale through a pre-pack. If the EU Court of Justice follows this opinion, this would probably mean the end of pre-packs as we currently know them.