The real estate industry during COVID-19 times (in Dutch) (Netherlands)

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The real estate industry during COVID-19 times (in Dutch) (Netherlands)

The real estate industry during COVID-19 times (in Dutch) (Netherlands)

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March 19, 2020

Gewaardeerde lezers,

Het zijn bijzondere tijden en iedereen van ons krijgt vroeg of laat te maken met zakelijke dan wel privé uitdagingen als gevolg van het Corona-virus.

Als vastgoedpartners hebben wij een gezamenlijke nieuwsbrief samengesteld die ingaat op veel voorkomende gespreksonderwerpen op vastgoedgebied.

Daarnaast heeft ons internationale kantoor een Engelstalige pagina beschikbaar gesteld waarop alle beschikbare (inter)nationale informatie is gebundeld: COVID-19 (Coronavirus) Hub. Ook onze arbeidsrecht collega’s, fiscalisten en collega’s van banking & corporate zorgen telkens voor actuele nieuwsberichten. Mocht u interesse hebben om automatisch onze Employment Alerts te ontvangen, dan horen wij dat graag.

Wij begrijpen goed dat er op het moment veel op u afkomt. Daarom houden wij de verschillende ontwikkelingen op alle verschillende rechtsgebieden (in binnen- en buitenland) nauwlettend in de gaten. Op die manier kunnen wij voor u een volwaardige gesprekspartner zijn, die meedenkt op alle onderdelen van uw bedrijfsvoering die door de Coronacrisis worden geraakt. Schroom niet om met ons contact op te nemen als u van gedachten wilt wisselen of uitgebreider advies gewenst in te winnen.

Namens de gehele vastgoedsectie: blijf gezond!

Showing 1 - 9 of Total Results (9)

Administrative law issues and the impact of Corona (in Dutch) (Netherlands)

March 19, 2020

Netherlands: Even during the COVID-19 crisis that is currently hitting the world and the Netherlands, the administrative procedure and the applicable time limits continue. It is important to pay close attention to this. The same applies if entrepreneurs decide to change their activities. These changes must be in compliance with the laws and regulations.

Interruption of the negotiations does it result in financial compensation (in Dutch) (Netherlands)

March 19, 2020

Netherlands: What is your legal position when your ‘supposed’ contract party breaks off the negotiations? Does pre-contractual liability exists under Dutch law and is the negotiation partner entitled to compensation? In principle negotiations can be terminated without any obligation to pay compensation. However, depending on the phase and the expectations (good faith to enter into an agreement), there are a few exceptions to this rule. At a certain point termination is not allowed without a form of compensation (for instance: costs of advisors). In exceptional cases, a party can also claim loss of profits. However, Dutch case law shows, this is not often granted.

COVID-19 and material adverse effect clauses in finance documents - a Dutch perspective (in Dutch) (Netherlands)

March 19, 2020

Netherlands: Recent events relating to Covid-19 are disrupting economies around the world. Many countries have closed their schools, restaurants, and sometimes even their airspaces and borders for individuals traveling from certain countries. Undoubtedly, this affects business continuity worldwide and raises concerns within banks and other financial institutions regarding the repayment of loans and from a borrower’s perspective regarding the continued availability of liquidity. Consequently, lenders and borrowers wonder whether Covid-19 could trigger the so-called material adverse effect provisions, generally referred to as an “MAE” clause, included in many Loan Market Association (LMA)-based finance documents.

Measures Dutch authorities (in Dutch) (Netherlands)

March 19, 2020

Netherlands: The Corona virus is spreading rapidly throughout the Netherlands. The Dutch authorities have imposed measures to try to stop Corona from spreading further, such as closing schools and daycares, urging people to work from home, to avoid social contacts, and by prohibiting mass events. It is possible that additional measures will be taken. These measures could be generic, but they could also be specifically imposed on a company. In case a competent authority would impose such specific measures on a company, these measures could be challenged in objections and summary proceedings. Considering the seriousness of the Corona crisis, we believe that such procedures will only be successful if it can be substantiated that the measures will not make a material contribution to fighting the Corona virus, whilst these measures do have serious detrimental consequences for the company involved.

Offer and acceptance in Corona times (in Dutch) (Netherlands)

March 19, 2020

Netherlands: The article elaborates on the different kind of legal offers and whether they can be revoked before being accepted, and if so until when. From the general rules pertaining hereto the question is answered whether the corona vires can be Considered a valid reason for revoking a certain offer. For a conditional offer the answer depends on the nature of the condition made. An irrevocable offer cannot be revoked. Whether performance can be demanded, following acceptance of such offer, is a matter addressed in one of the other articles in this series.

Rent reduction legal impossibilities and possibilities (in Dutch) (Netherlands)

March 19, 2020

Netherlands: What are the legal (im)possibilities under Dutch lease law with regard to rent reduction and does a (voluntarily) shut down of a retail shop result in a legal defect under Dutch law? Are there any other legal escapes to adjust or amend lease agreements due to the Coronavirus?

Some practical issues with respect to execution of notarial deeds of transfer (in Dutch) (Netherlands)

March 19, 2020

Netherlands: This article contains a brief overview of some practical implications of the current corona situation with respect to the execution of notarial deeds and the transfer of the ownership of real estate. Especially with respect to the power of attorney and possible delay in the transfer process.

Tax Coronavirus measures (in Dutch) (Netherlands)

March 19, 2020

Netherlands: The Dutch government recognizes that the Coronavirus (COVID-19) and the corresponding regulations to prevent any further spread of the virus have a major impact on the Dutch economy. Therefore, the Dutch government introduced compensating measures for taxpayers on March 17, 2020.

Withdrawing from contracts on the basis of unforeseen circumstances (in Dutch) (Netherlands)

March 19, 2020

Netherlands: Agreements that made sense some time ago, may put companies in trouble now due to the Corona crisis. Some parties may wonder whether they can still withdraw from contracts closed (shortly) before the Corona crisis erupted or change these contracts. Dutch law enables parties under certain conditions to withdraw or change contracts in the event of unforeseen circumstances. The Corona crisis is most likely considered to be an unforeseen circumstance. This articles explains which conditions need to be met in order to rely on the concept of unforeseen circumstances.