The Legal 500

Twitter Logo Youtube Circle Icon LinkedIn Icon

AKD

PO BOX 59280, 1040 KG AMSTERDAM, NETHERLANDS
Tel:
Work +31 88 253 5000
Fax:
Fax +31 88 253 5001
Email:
Web:
www.akd.nl
Amsterdam, Breda, Brussels, Eindhoven, Luxembourg, Rotterdam

Show all Press releases

AKD advises D-reizen on takeover of Globe travel agencies

October 2013

On 2 October 2013, the D-reizen travel agency chain announced its intention of taking over 81 Globe travel agencies with immediate effect from the liquidators of the Oad Group, which was declared bankrupt last week.

These 81 travel agencies will continue trading under the name of D-reizen, which will bring the number of D-reizen Holiday Shops up to a total of 270. The takeover also means that D-reizen will now have more than 1100 employees.

AKD's role and work during the takeover
AKD was responsible for advising and assisting D-reizen during the bidding process and the subsequent negotiations with the liquidators and the other parties involved. AKD was also responsible for structuring the proposition, drawing up the necessary documents and giving legal advice on the approval process at the Netherlands Authority for Consumers & Markets. 

Carlos Pita Cao, lawyer specialising in Corporate Law | M&A and partner at AKD, says: "This was a unique case and a real challenge. We really had to move very quickly. In cases like this one, it's absolutely essential to ensure continuity of the travel agencies and preservation of jobs, so each hour spent is one too many. Since there were several interested parties involved in the bidding process, the situation could change completely in just a few minutes."

Paul Peters, lawyer specialising in Corporate Recovery & Insolvency and partner at AKD, adds: "Yes, all parties concerned had to take immediate action. The liquidator hit the nail on the head when he described the process as a roller-coaster."

The AKD team comprises Carlos Pita CaoPaul Peters, Laura de Jong, Marije Osse and Sabina Smallegange.

Legal Developments by:
AKD

Legal Developments in Netherlands

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • 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.
  • Amendment of the Collective Redundancy Notification Act

    On 1 March 2012 the Collective Redundancy Notification Act (Wet Melding Collective Outslug, "WACO") will be amended. What changes does this involve?
  • 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.
  • Shipping & Transport - Netherlands

    Attaching maritime assets in insolvency
    - AKD
  • The employment of foreign workers. What issues do you need to be aware of as an employer?

    The employment of foreign workers regularly raises questions. A brief summary of the most important areas of attention will be dealt with in this article.
    - AKD
  • Non-solicitation agreement violated via LinkedIn

    A non-solicitation agreement usually restricts the ability of an employee - after an employment contract has ended - to approach the clients of the former employer. The former employee of a software company recently discovered that the scope of such an agreement can also include contacts made via LinkedIn.
    - AKD
  • NETHERLANDS AS A GLOBAL FINANCE CENTRE

    Few jurisdictions can boast a foreign direct investment record like the Netherlands. As the world's seventh largest inward receiver of investments, housing approximately 9000 foreign-owned companies, the country's dynamic business environment provides an invaluable insight into macro investment trends.
    - AKD
  • 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.
  • Leasing of commercial premises in the Netherlands

    Normal 0 false false false EN-GB X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman","serif";} Dutch Law distinguishes two categories of commercial premises. Depending on the type of premises or the purpose for which it is used, they are referred to as:
  • Employment of foreign workers in the Netherlands

    The employment of foreign workers in the Netherlands regularly raises questions. What issues do you need to be aware of as an employer? A brief summary of the most important areas of attention will be dealt with in this article.
    - AKD