Jones Day (JD Supra Netherlands)
Legislative Update: The Dutch Scheme Has Arrived
After more than six years of development, the legislative process concerning new Dutch restructuring legislation (Wet Homologatie Onderhands Akkoord, or "WHOA") that introduces a Dutch debtor-in-possession proceeding ("Dutch Scheme"), combining features of chapter 11 of the U.S. Bankruptcy Code and the English Scheme of Arrangement, was finalized at the end of 2020. The WHOA entered into force...
Legislative Update: New Dutch Restructuring Law Enacted
On October 6, 2020, the Dutch Senate approved long-anticipated restructuring legislation allowing for court confirmation of extrajudicial restructuring plans (Wet Homologatie Onderhands Akkoord, or "WHOA").
New Guidance for Dutch Prosecutor on the Investigation and Prosecution of Foreign Corruption
On October 1, 2020, the new Instruction on the Investigation and Prosecution of Foreign Corruption for the Dutch Public Prosecution Service ("DPPS") entered into force, indicating certain factors that play a role in determining the appropriateness of investigation and prosecution of foreign corruption cases. Main Elements of the Instruction - Background - The Instruction replaces the...
New Instruction Guides the Dutch Prosecutor on How to Handle Large Settlements
On September 4, 2020, a new Instruction for the Dutch Public Prosecution Service ("DPPS") entered into force, setting a framework for offering large settlements to defendants. Main Elements of the Instruction - The Instruction replaces the 2008 Instruction on Large and Extraordinary Settlements. On several elements, it is brought closer in line with the DPPS's existing practice of handling
Dutch Government Plans Retroactive Foreign Investment Screening in View of COVID-19 Crisis
Proposed retroactive application could expose investments made as from June 2, 2020, to ex post scrutiny. ??????? On June 2, 2020, the Dutch Government ("Government") announced that it plans to apply a proposed comprehensive foreign direct investment ("FDI") screening mechanism retroactively to investments and takeovers ("Investments") carried out as from June 2, 2020. At the end of 2019,...
The Netherlands Adopts Business and Human Rights Legislation to Combat Child Labor
The Situation: On November 13, 2019, the Child Labor Due Diligence Act ("Act") was published in the Dutch Government Gazette. The law introduces a duty of care for companies to prevent the supply of goods or services which have come into existence using child labor. The Act's exact date of entry into force is not yet known. The Result: Companies, including companies registered outside the...
The Dutch Scheme: A Valuable Addition to Cross-Border Restructuring Toolbox
The Netherlands is planning to adopt new restructuring legislation, allowing for court confirmation of extrajudicial restructuring plans (Wet Homologatie Onderhands Akkoord, or WHOA). The bill combines features of the U.S. chapter 11 procedure and the English Scheme of Arrangement. With its broad range of jurisdiction and flexibility, the "Dutch Scheme" will prove to be an effective addition to...
Significant Changes to Dutch Employment Law Take Effect
The Situation: Several changes to Dutch employment law took effect January 1, 2020, most notably those resulting from the Labor Market in Balance Act. The Result: Businesses in the Netherlands must be aware of and comply with various new legislative developments, including changes in the law governing termination grounds, transition payments, and fixed-term and on-call employment contracts.
Renegotiation of Existing BITs by the Netherlands May Directly Affect Current Investments
The Situation: The Netherlands has 79 bilateral investment treaties ("BITs") in place with non-EU countries. On March 22, 2019, the Dutch government published a new model BIT ("2019 Model") as a template for negotiating new non-EU BITs and replacing existing ones. The 2019 Model offers investors less protection than do existing BITs. The Result: The Netherlands plans to renegotiate existing...
Collective Redress in Europe: Developments in Key Jurisdictions—The Netherlands
The Situation: The Netherlands has a comprehensive system for collective actions and the collective settlement of claims but currently, there is no possibility to seek monetary damages in collective actions. The Developments: A proposed bill introducing a collective damages action was adopted this week by the lower house of the Dutch Parliament...
Online-Platform Companies Faced with Far-Reaching Dutch Employment Laws
Contrary verdicts regarding self-employed may impact employers - A Dutch court ruled that delivery riders working for an online-platform company called Deliveroo are not self-employed, but their legal relationship qualifies as an employment agreement with corresponding rights including the collective labor agreement applicable to the transport industry. The biggest trade union in the...
The Netherlands Commercial Court: An Attractive Forum for Litigation
Specially designed for large and complex international commercial disputes, the NCC offers effective and economical litigation options. In December 2018, the Dutch Senate unanimously passed legislation to introduce the international trade chamber of the Court of Amsterdam (Netherlands Commercial Court ("NCC")) and the Amsterdam Court of Appeal ("NCCA"). Shortly after, the Minister of Justice...
Company Doctor: Changes to Dutch Workplace Legislation
In the Netherlands, both employer and employee have various obligations during illness. In summary, the obligation of the employer is to facilitate the employee's return to work or, if this is not possible, to provide alternative work. The employer is assisted by the company doctor who assesses the reason for illness and determines the reintegration options and process.