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New Late Payments Directive
Despite the implementation of Directive 2000/35/EC on combating late payment in commercial transactions in 2002, the European Commission (the “Commission”) concluded in 2008 that late payments were still widespread in the EU. It also turned out that public authorities in certain Member States were stipulating unjustifiably long contractual payment periods for transactions.
New Corporate Law Legislation
In the field of corporate law, there are four (coming) Acts that attract attention, namely the introduction of the tenth book of the Dutch Civil Code, the amendment of the Marital Property Act and, to conclude, the coming entry into effect of the Management and Supervision Act and the Flexibilization of BV Act. Please find below a short explanation of each Act.
Forming a company in the Netherlands
The Netherlands and Dutch law The Netherlands is a perfect business location for foreign entrepreneurs (2,000 subsidiaries in Amsterdam, 140,000 jobs). It is the gateway to densely populated Western Europe and has a well-developed logistic and technical infrastructure.
Aanbestedingswet biedt MKB slechts vrijblijvende handreikingen
In het regeerakkoord van het kabinet Rutte 1 is vastgelegd dat het MKB meer kansen verdient bij aanbestedingen. Klinkt mooi, maar hoe het kabinet deze doelstelling wil realiseren, wordt niet concreet aangegeven. Aanpassing van het wetsontwerp voor de komende Aanbestedingswet ligt echter voor de hand.
Legal milestone: Enterprise Chamber grants Clients Council right of investigation
Legal history was made recently when a clients' participation council (‘cliëntenraad’) of a care institution exercised its right of investigation (‘enquêterecht’).
Corporate Governance
In den letzten zehn Jahren hat die Diskussion über effiziente Formen der Leitung und Überwachung börsennotierter Gesellschaften unter dem Stichwort Corporate Governance stark zugenommen. Diese Entwicklung ist sowohl auf die Globalisierung der Kapitalmärkte als auch auf die vermehrten Schieflagen von Unternehmen im In- und Ausland zurückzuführen. So gab es beispielsweise in den Niederlanden im Jahr 2003 großen Aufruhr aufgrund des Debakels um den Ahold-Konzern (einer der weltweit größten Betreiber von Supermarktketten, wie zum Beispiel Albert Heijn, Etos und Gall&Gall), der Bilanzmanipulationen einräumen musste. In Deutschland machte in den 90-er Jahren die FlowTex-Affäre Schlagzeilen, im Jahre 2002 wurde der Comroad-Skandal aufgedeckt.
No Consent, No Cookie: New Rules for Online Advertising
On 22 June the Article 29 Data Protection Working Party (the “Working Party”), the consultative body of the European privacy protection authorities, published an opinion that gives substance to the amended rules for “online behavioral advertising”. Prior consent is required for the placing of cookies, and the information requirements are also forced up.
Delay in Pursuing Bunker Claims Can Be Fatal
Shipping is not immune to the credit crunch. It may be international, but so too is the credit crunch, so money in shipping will be tight for the foreseeable future.
OECD Guidelines on Corporate Governance of State Owned Enterprises
This article refers in general terms to the OECD Guidelines on Corporate Governance of State Owned Enterprises and provides an overview of the work of the OECD in the field of corporate governance of state owned enterprises.
Update of the Dutch Corporate Governance Code
The Dutch Corporate Governance Code Monitoring Committee has published a report with proposals to update the Dutch Corporate Governance Code. In this article you will find a summary of the proposals.
The MAC Clause in acquisition agreements
The “Material Adverse Change” or “Material Adverse Effect Clause” (the ”MAC”) is one of the most negotiated clauses in acquisition agreements (share purchase agreements). In the Netherlands, there is still a distinct lack of clarity as regards the content and impact of this much-discussed clause.
Dealing With The Dutch Part III
Air law - discusses the legal aspects of air transportation with a focus on the transportation of cargo. Insolvency law - discusses a number of questions with regard to insolvency. Administrative law - When you set up a business in the Netherlands, there are many detailed government regulations you will have to deal with. Immigration law - discusses the rules for immigration. Diplomatic mission - discusses the limits of diplomatic immunity and how they are defined, the consequences of diplomatic status and the situations in which Dutch law is applicable
Dealing with the Dutch
The Netherlands is widely regarded as an important gateway to Europe due to its strategic position. Having been a trading nation for centuries, it has an open economy and a global outlook. In addition, the country offers a highly skilled, multilingual workforce and a high quality of living. As a consequence, the Netherlands has always been a popular business location for foreign companies.
