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    Current developments

    The Cerberus Van Lanschot NPL Saga continued

    Market parties with an interest in the Dutch non- and sub-performing loan market and their advisors have been awaiting the Dutch Supreme Court judgement in the latest episode of the Cerberus Van Lanschot saga for some time now. The questions put before the Dutch Supreme Court concerning the transferability of bank’s claims to non-banks and the duties of care imposed on sellers and buyers of such receivables are of interest to sellers and buyers of non- and sub-performing bank loans alike.
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    Legal insights on AI, Machine Learning and Big Data from a Dutch perspective

    Interested in the latest legal insights on AI, Machine Learning and Big Data from a Dutch perspective? Louis Jonker, Berber Bosch and Lodewijk Heinsman contributed to the exclusive Netherlands chapter of Global Legal Group's GLI – AI, Machine Learning & Big Data 2020, which is now online and free to access.
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    House of Representatives approves bill for the introduction of a pre-insolvency composition

    The Dutch House of Representatives approved the bill for the introduction of a pre-insolvency composition (the so-called: "Dutch Scheme") with a view to entry into force on 1 July 2020.
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    Extension of the NOW 1.0 with the NOW 2.0

    The Minister of Social Affairs and Employment announced on 20 May 2020 that the Dutch Emergency Fund Bridging Employment, known as the NOW (Noodmaatregel overbrugging voor behoud van werkgelegenheid), will be extended to cover the months of June, July and August 2020 in the form of the NOW 2.0. The Minister also announced some amendments to the NOW 1.0, which covers the months of March, April and May 2020. Please find a link to our article on the NOW 1.0 here. Below you will find the relevant differences between the NOW 1.0 and the NOW 2.0 and the amendments to be made to the NOW 1.0.
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    New Financing – government measures to provide credit support

    The Dutch government has extended the existing guarantee schemes to provide credit support. In this article, we provide a description of the relevant schemes and how these have been extended in connection with the COVID-19 outbreak.
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    Dutch relief measures to save jobs in response to the coronavirus (COVID-19)

    On 31 March 2020 the Dutch government provided further insight in the rules of the earlier announced Emergency Fund Bridging Employment, by making public the NOW (Noodmaatregel Overbrugging voor behoud van Werkgelegenheid). On 3 April some amendments were made to the NOW. On 22 April further amendments were announced, which are expected to be published in the beginning of May and which will be touched on in this article. By these last amendments the scope of the NOW will be extended to include certain Dutch operating companies forming part of a group, which currently are not eligible for financial aid under the NOW. The NOW provides financial aid to companies suffering at least a 20% turnover loss during a chosen period of three months (March-May, April-June or May-July) in the form of a substantial contribution towards the wage costs during the months March, April and May. Applications for advance payments can be made with the Employee Insurance Agency (UWV). Companies can make requests under the NOW from 6 April 2020. Applications can be made at the latest on 31 May 2020. The NOW replaces the Reduced Working Time scheme, which was withdrawn in March. Applications under the Reduced Working Time scheme which were submitted prior to the withdrawal will be converted into applications under the NOW. The government will decide by 31 May 2020 whether or not the NOW will be extended for a further three months (through August 2020) and, if so, in what form.  
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