NETHERLANDS Law and Practice Contributed by: Coco van Zuiden, Marijn Bodelier, Sabine Schoute and Simone Wijngaard, Greenberg Traurig, LLP
two months), during which security rights can - not be enforced. The pledgee/mortgagee does not need to contribute to the bankruptcy costs. A bankruptcy trustee has the right to impose a (reasonable) deadline on pledgees/mortgagees to enforce their security rights. If a pledgee/ mortgagee does not enforce its security rights by this deadline, then the trustee may take over the enforcement. In that case, the pledgee or mortgagee retains its priority claim on the pro - ceeds from the enforcement sale, but it must bear a proportionate part of the bankruptcy costs (which can be considerable). Powers of Attorney Any power of attorney or mandate contained in the finance or security documents, whether or not it is irrevocable, granted by the Dutch bor - rower, will terminate without notice by force of law upon bankruptcy, and will cease to be effec - tive in case of a suspension of payments of the Dutch borrower or in the event of the Dutch bor - rower being subjected to an intervention, recov - ery or resolution measure. Statutory Priority Right of Dutch Tax Authorities The Dutch tax authorities have a statutory pri - ority right over equipment and other movable assets (the priority assets) which are intended for furnishing and which are located at the prem - ises of the debtor of certain tax claims in the Netherlands. This statutory priority right prevails over a non-possessory right of pledge over such assets, even if the pledgor is not the debtor of the tax claim. 3.10 Taxes on Loans No stamp duties or recording taxes are payable in connection with the creation of mortgage
loans or mezzanine loans related to real estate. There are also no proposed rules in this regard.
4. Planning and Zoning 4.1 Legislative and Governmental Controls Applicable to Strategic Planning and Zoning The main instrument for regulating the use of a property is the “environment plan” ( omgeving - splan ). The Environment and Planning Act sets certain environmental boundaries for the envi - ronment plan but generally the municipal legis - lature has a wide margin of appreciation when adopting such a plan. 4.2 Legislative and Governmental Controls Applicable to Design, Appearance and Method of Construction The most important rules for design, appearance and method of construction of new buildings or refurbishment of an existing building are laid down in the environment plan. This can, among other things, set maximum dimensions for build - ings and regulate the appearance of buildings. Certain minimum safety requirements are laid down in the Environment and Planning Act and the Structures (Living Environment) Decree ( Besluit bouwwerken leefomgeving ). A permit for building activities can be required, depending on the details of the building and the provisions of the environment plan. 4.3 Regulatory Authorities The municipal executive ( burgemeester en weth - ouders ) is mainly responsible for regulating the development and designated use of individual parcels of real estate. In some instances, the provincial executive or the minister will be the competent authority. Typically, the main restric -
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