Trust Offices (Supervision) Decree 2018 – time bomb for proxies granted under private law?

On the 26th day of June 2018, the Dutch Ministry of Finance (the “Ministry”) has announced a consultation for the ‘Trust Offices (Supervision) Decree 2018’ (the “Decree”). This Decree entails that anyone who represents a company based on a proxy falls within the scope of the Trust Offices (Supervision) Act 2018 (the “Act”). The Act currently applies to trust offices who are defined in article 1 of the Act, meaning that only those who grant trust services qualify. Read more

Introduction of the (international) Netherlands Commercial Court

On the 8th day of March 2018, the Dutch House of Representatives adopted a legislative proposal (the “Proposal”) introducing a new court that only litigates in the English language. This new court is called the Netherlands Commercial Court (the “NCC”) and part of the commercial division of the Court of Amsterdam. The NCC will be specialised in international trade disputes, to which decisions appeal can be submitted at the Netherlands Commercial Court of Appeal (the “NCCA”). Both the NCC and the NCCA will be located at the Palace of Justice at the IJdok in Amsterdam. Judges and councillors who are seated in the NCC and the NCCA shall all be specialised in international trade disputes. Read more