Netherlands updates
Arbitration & ADR
Contributed by Freshfields Bruckhaus Deringer LLPSine dubio: court acknowledges pro-enforcement bias of New York Convention
- Netherlands
- June 07 2018
The Hague Court of Appeal recently ruled that its decision on an application for the enforcement of a foreign arbitral award would not be stayed solely on the basis of pending setting aside proceedings at the place of arbitration. Further, the court ruled that the party requesting exequatur did not have to submit Dutch translations of the award. The decision is notable, as the appeal court explicitly acknowledged the New York Convention's pro-enforcement bias, which several courts have failed to do in recent years.
Arbitral award may be enforced after annulment at seat
- Netherlands
- February 22 2018
The Supreme Court recently ruled that a Dutch court may enforce an annulled arbitral award if, among other things, the local annulment decision is based on grounds other than those set out in Article V(1)(a)-(d) of the New York Convention and which are not internationally recognised, or the annulment decision is irreconcilable with Dutch private international law. This judgment offers important guidance as to the Dutch courts' discretion to enforce annulled awards.
Will ruling denying recognition of Yukos bankruptcy affect setting aside of $50 billion UNCITRAL award?
- Netherlands
- September 21 2017
The Amsterdam Court of Appeals recently ruled that the Russian liquidation order regarding OAO Yukos Oil Company is contrary to Dutch public order and therefore null and void. An interesting question is whether the judgment will have a bearing in the appeal of the annulment proceedings concerning the $50 billion Energy Charter Treaty arbitration case between former Yukos shareholders and Russia, which is pending before The Hague Court of Appeal.
Swatch/Tiffany setting-aside proceedings: court rules restraint must be exercised in reviewing arbitral decisions
- Netherlands
- June 01 2017
The Amsterdam Court of Appeals recently annulled a 2013 Amsterdam District Court decision to set aside a $450 million arbitral award in proceedings between watchmaker Swatch and jeweller Tiffany. The main question for the court of appeals was whether the district court had been correct in holding that the tribunal had exceeded its authority. The judgment, which may be subjected to Supreme Court review, confirms the court's pro-arbitration and enforcement approach.
Supreme Court rules recognition of international arbitral awards not subject to appeal
- Netherlands
- May 04 2017
In a recent decision, the Supreme Court rigorously applied Article III of the New York Convention and ruled that a decision recognising an international arbitral award is no more subject to appeal than a decision recognising a domestic arbitral award. Further, the court rejected the plea that such an appeal should be available under Article 6 of the European Convention on Human Rights.
Company & Commercial
Distributions of profits to shareholders under corporate law
- Netherlands
- January 29 2018
A Dutch private limited company can make distributions of profits to its shareholders if the company's capital exceeds the aggregate of the reserves that must be maintained pursuant to the law and the company's articles of association. If a company cannot pay its due and payable debts after a distribution, the members of the board of directors can be held liable to for any resulting shortfall and the company's bankruptcy trustee can claim and recover the amount wrongfully paid from each shareholder.
Energy & Natural Resources
Contributed by Stek Advocaten BVProhibition on coal-fired power plants
- Netherlands
- June 11 2018
In the new government's coalition agreement, the ruling parties promised to phase out coal-fired power plants by 2030. Thus, the minister of economic affairs and climate policy has been negotiating the closure of the five remaining coal-fired power plants in the Netherlands, and the government recently published a draft bill effecting this closure for consultation. Based on the initial public reactions, it appears that although exiting coal may be relatively easy, it may be naive to think that it can be done for free.
Towards a climate and energy plan: will Dutch polder model succeed?
- Netherlands
- April 09 2018
The government recently finalised its objectives and the negotiation format for the national climate agreement. This will be an agreement in principle, which will form the basis of the integrated national energy and climate plan pursuant to the draft regulation on the governance of the Energy Union. The state and various stakeholders will negotiate and conclude the climate agreement, for which the government recently finalised its objectives and the negotiation format.
Renewable energy subsidies renewed
- Netherlands
- March 12 2018
The minister of economic affairs and climate recently announced that the new government has reserved €12 billion to grant subsidies in 2018 for the production of renewable energy under the Renewable Energy Grant Scheme. The subsidies, which will be made available to applicants in two €6 billion tranches, aim to accelerate the development and use of sustainable energy production technologies.
New government's ambitious climate and energy initiatives
- Netherlands
- January 15 2018
The new government's coalition agreement contains an ambitious paragraph on climate and energy, which observes that the European Union's aim to reduce greenhouse gas emissions by 40% (compared with 1990 levels) by 2030 will be insufficient to meet the Paris Agreement target. Therefore, the new government has set the bar higher, introducing measures to prepare the Netherlands for a 49% reduction in greenhouse gas emissions by 2030.
Geothermal financing developments
- Netherlands
- September 25 2017
The number of geothermal energy projects in the Netherlands is rapidly increasing and there are growing calls for the existing legal framework to be reshaped in order to meet the specific needs of such projects and remove bottlenecks. In light of geothermal energy's potential in the much-desired energy transition, it is hoped that these growing pains can be quickly overcome and that the industry can continue to develop itself as a standalone professional industry.
Healthcare & Life Sciences
Contributed by AKD NVElectronic exchange of patient data: consent in view of Supreme Court decision, GDPR and future regulations
- Netherlands
- June 20 2018
In 2011 the Senate rejected the legislative proposal to establish a mandatory electronic patient record. Subsequently, various national professional associations recommenced the initiative in a different (optional) form, using the already developed nationwide infrastructure for the electronic exchange of personal medical data. The Association of General Practitioners petitioned the courts to prohibit the new initiative. However, the Supreme Court recently allowed it on the basis of present legislation.
Inducement ban regarding medical devices
- Netherlands
- March 28 2018
The Medical Devices Act was recently amended to include a provision that bans improper inducements aimed at stimulating the prescription or supply of medical devices on the basis of undesirable financial incentives. The aim of the amendment is to give patients more trust that healthcare professionals make decisions concerning certain devices based on legitimate grounds relating to patient care.
Insolvency & Restructuring
Amsterdam Court of Appeals denies recognition of Yukos bankruptcy based on public order exemption
- Netherlands
- September 15 2017
The Amsterdam Court of Appeals recently ruled that the 2006 Russian liquidation order regarding OAO Yukos Oil Company is contrary to Dutch public order and therefore null and void. The court's reasoning was largely based on a 2014 European Court of Human Rights judgment following a complaint lodged against Russia by the former Yukos shareholders with regard to Yukos's liquidation.
