Haco Van Der Houven Van Oordt News

Rotterdam-based law firm AKD says a recent revision of the Brussels I Regulation makes it possible to quickly attach assets anywhere in the EU if parties include in their contracts a choice of forum clause conferring jurisdiction on the Rotterdam court. The Brussels 1 Regulation provides uniform rules throughout the EU on international jurisdiction and the recognition and enforcement of civil and commercial judgments. Bart-Jan van het Kaar, a lawyer with AKD, explains,”The revised Brussels 1 Regulation, which came into effect on January 10, 2015, introduces an important change.

Rotterdam-based law firm AKD has completed the sale at auction of the container vessel Caribbean Sea in the courts of Aruba following its arrest by Rabobank for outstanding mortgage debts in excess of $28 million. The entire arrest and auction process was completed in just 20 days. The 2007-built vessel arrived and was arrested in Aruban waters on March 25, 2015 as security against an outstanding debt of $28,398,786, and was sold at auction on April 14. AKD partner Haco van der Houven van Oordt…

AKD says the lack of an unambiguous term to describe a ‘ship’ in several jurisdictions represents a potential threat to asset security for financiers, particularly in the offshore and renewable energy sectors. AKD partner Haco van der Houven van Oordt says, “In many jurisdictions, including the US and the UK, there appears to be no clear definition of a ship. A recent Tulane Maritime Law Journal study illustrated how a variety of floating objects which have no means of propulsion and/or ability to carry cargo or passengers cannot easily be registered as a ship.

Rotterdam-based law firm AKD said a recent decision of the Dutch courts means that shipyards in The Netherlands may no longer be able to rely on the right to retain a vessel while awaiting payment for work done. As a result of this unexpected decision, shipyards could be forced to completely rethink their strategy on obtaining security, at a time when money remains tight in the shipping industry. The dispute before the Gelderland Court involved two tankers under construction at the Markerink yard in the Netherlands. Upon completion of building, it was the intention of Rijndec Quality Control to transfer ownership of the vessels to two separate affiliated companies, Rijndec Trading and Rijndec Shipping.

Rotterdam-based law firm AKD says that creditors of ailing shipping groups such as STX Pan Ocean of South Korea, and TMT of Taiwan, could seek to take advantage of prevailing bankruptcy laws to enforce vessel arrests and other attachments in the Amsterdam-Rotterdam-Antwerp (ARA) region. Haco van der Houven van Oordt, a partner with the shipping and offshore team at AKD in Rotterdam, said, “The recent reports of bankruptcies and voluntary liquidation proceedings involving shipping companies have now reached levels which exceed any in recent memory. STX Pan Ocean, South Korea’s largest dry bulk operator, has reportedly obtained bankruptcy…

Netherlands law firm AKD has appointed Jan Kromhout as a partner in its shipping and offshore team.Jan began his career in Rotterdam with the law firm Nauta Dutilh. In 2005 he joined the leading operator in the international market for heavy marine transport, where he became head of the legal department and where he also gained extensive experience of arranging contracts involving the oil and gas industry Jan works closely with shipping companies in drawing up transport contracts, arranging charter  parties, co-operation agreements, shipbuilding contracts and vessel financing arrangements.

Netherlands law firm AKD says that, while beleaguered shipowners may be looking increasingly to Chapter 11 filings in the United States to protect their financial interests, the fact is that Chapter 11 does not enjoy the force of law throughout the world, and certainly not in The Netherlands. Haco van der Houven van Oordt, head of the shipping & offshore team at AKD’s headquarters in Rotterdam, says, “Nobody – and that includes the banks - wants to see shipping companies forced out of business. On the other hand, one cannot expect the banks to forgo the opportunity to ring-fence their losses in cases where they deem this to be the most propitious course of action.

AKD Prinsen Van Wijmen, one of the largest law firms in the Netherlands, is expanding its transport law team. Effective October 15, three partners and three associates are joining AKD from the Rotterdam office of law firm NautaDutilh. Frans de Vries Lentsch. Also making the move are Emily Derogee van Roosmalen, who heads up the Netherlands arbitration platform, Transport and Maritime Arbitration Rotterdam-Amsterdam (TAMARA), Taco van der Valk, researcher, maritime and transport law, and Haco van der Houven van Oordt. They will join AKD's existing transport and insurance division, which currently has two partners, Leo Boersen and Carel van Lynden.

Shipowners who find their vessel has been arrested in the Netherlands need to be careful when putting up security to get the ship released quickly. Recent case law shows that even if the owner has a strong case in rejecting the claim, it may still have to wait until the very final judgement before being able to reduce the security. In the worst case scenario this may take several years, if conditions for security reduction are not specifically agreed at the outset. Netherlands is of course well known as a ship arrest paradise. To prevent unnecessary costs and delays, shipowners have the option of providing security in exchange for an arrested vessel’s release. This is usually done on Rotterdam Guarantee Form 2000.