A recent Supreme Court ruling has put a practical end to the effectiveness – in relation to third parties – of clauses in contracts prohibiting assignment or pledge of receivables. The ruling means that if a debtor does not want a creditor to freely assign his position to a third party, the debtor will have to specifically provide in the contract that the clause should have effect vis-à-vis third parties.
We recently issued a Legal Alert about this ruling (in Dutch only).
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