Corporate Insolvency and D&O Liability in The Netherlands – Dutch Bargain for Trustees?

Ceteco N.V., the Dutch top holding of an international concern, went bankrupt in May 2000. Its activities included not only the production and wholesale of audiovisual equipment and white goods, but also retail and consumer finance. Ceteco focused strongly on the Latin-American market. Between 1991-1996 Ceteco implemented an ambitious growth model for its retail activities by selling its products to the financially weak on credit. As from 1993 an accelerated growth plan was put into effect and Ceteco gained access to five new markets by acquiring local companies. Source: 2009 Spring International Committee Newsletter van de (of the) American Bar Assocation