Annotatie onder Rechtbank Rotterdam - 22 juli 2015

Short Reads - On 1 January 2021, the Act on confirmation of private restructuring plans (Wet homologatie onderhands akkoord, also known as the “WHOA”, hereinafter: the "Dutch Scheme”) came into effect. We discussed several aspects of the Dutch Scheme in our previous blogs.

Short Reads - Het bonus- en dividendverbod is een veelbesproken onderdeel van de Tijdelijke noodmaatregel overbrugging voor behoud van werkgelegenheid ("NOW").

Short Reads - In Dutch legal practice, contracting parties often agree on exoneration clauses in commercial contracts in which liability for indirect damage is excluded. However, the term indirect damage does not exist in the Dutch Civil Code, and in the Dutch language there is no generally accepted meaning for indirect damage. Conflicts therefore quite frequently arise between contracting parties in relation to the interpretation of indirect damage.

Short Reads - Under Dutch law, the general principle is that contracts only have legal effects for the contracting parties themselves. In principle, contracts have no legal effects for third parties. If contracting parties agree on exoneration clauses in commercial contracts, the exoneration clauses will thus only have legal effects between those parties.