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ARTICLE · 25 SEPTEMBER 2025

Restructuring Of Selecta Through A Share Pledge Enforcement

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This blog discusses a ruling of 13 May 2025 of the Amsterdam District Court (NCC Court in summary proceedings) regarding a private share pledge enforcement...

NetherlandsInsolvency/Bankruptcy/Re-Structuring
Ruud Brunninkhuis
Ruud Brunninkhuis
Giel Sengers
Giel Sengers
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This blog discusses a ruling of 13 May 2025 of the Amsterdam District Court (NCC Court in summary proceedings) regarding a private share pledge enforcement (ECLI:NL:RBAMS:2025:4217) related to the restructuring of Selecta. It shows that a restructuring not only takes place through a composition plan but can also take place through a share pledge enforcement. Another notable aspect is that the ruling is in English, as the case was handled by the Netherlands Commercial Court (NCC), a chamber of the Amsterdam District Court established in 2019, specialized in international proceedings, and conducting all such proceedings entirely in English.

Facts

The applicant in this case is Kroll Trustee Services Ltd (Kroll). Kroll was appointed as security agent by the lenders of Selecta. The core of the proceedings is to obtain approval from the NCC under Article 3:251 of the Dutch Civil Code for a private sale of pledged shares in Selecta Group B.V. (Se-lecta). Selecta

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