A declaration of intent; rights and obligations
How binding is a clause in a letter of intent stating that rights and obligations only arise once a signed agreement has been concluded? Not always binding, as it turns out.
How binding is a clause in a letter of intent stating that rights and obligations only arise once a signed agreement has been concluded? Not always binding, as it turns out.
As of Jan. 1, 2024, the Environment Act will be in effect. With its entry into force, it has been said that the largest legislative operation has been completed since the introduction of the Dutch Constitution law in 1848. Several previously existing separate laws and regulations have been combined into one law and four Orders in Council with the Environment Act. With a legislative operation of such magnitude, of course (principle) choices are made that bring about a change from the previously applicable law. So too in the context of the Environment Act.
With the introduction of the Management and Supervision of Legal Persons Act (WBTR), the legislature has taken important steps to improve the management and supervision of foundations. One of the most notable changes concerns the expansion of the grounds for dismissal for directors of foundations. In this article, we discuss the new statutory regulation, illustrate the regulation with a practical example, and explain the implications for directors and stakeholders.
In a recent court case concerning turboliquidation of a catering business, the court ruled that the directors were not personally liable. The case involved the discontinuation of the business without assets, with creditors being paid pro rata. The landlord claimed unlawfulness, but the court held that the turboliquidation had been carried out correctly with no obligation of bankruptcy.
Directors of troubled companies are usually aware that acts performed in the face of bankruptcy (if it comes to that) will be examined by a receiver. Unobligatory legal acts that have harmed creditors may be reversed by the trustee.
What happens when negotiations suddenly break down? Find out when this may be unlawful and whether you are entitled to compensation for costs incurred.
Being right and being right are two different things, it is sometimes said. This is not entirely true, but it indicates that a court ruling is far from always considered satisfactory.
In this final article of the 'Commercial Contracts' series, Gentia Niesert, attorney at contract law, discusses the ins and out of 'the assignment agreement’. How does it differ from the building contract and the employment contract, and what provisions do you find in an assignment agreement?
A dynamic incorporation clause relating to a collective bargaining agreement is an agreement in the employment contract whereby the provisions of a collective bargaining agreement, as they will read from time to time (hence the term dynamic), are declared applicable to the employment relationship.
On June 11, 2024, the House of Representatives adopted the Bill to Remove Pledge Prohibitions. As a result of the proposed regulation, it will no longer be possible to agree that receivables cannot be transferred or pledged. This article explains the proposed regulation.