Articles de revues sur le sujet « Bankruptcy – Netherlands »

Introduction: Dutch colonialisation of Indonesia provides many legacies, one of which is a legal product. The bankruptcy law specifically initially adopted Verordening Faillisements as the bankruptcy law. The development of the times was followed by the increasing complexity of the problems and demands for resolution-making legal changes necessary, of course, this happened in the two countries with the Netherlands, which used the Dutch Bankruptcy Act and Indonesia with Law Number 34 of 2004 having differences in the classification of Bankruptcy and its resolution. Research Objectives: This study analyses the bankruptcy legal system's comparison between Indonesia and the Netherlands. Research Methods: The type of research used is normative legal research with a comparative approach. Conclusion: The comparison of the two bankruptcy laws was carried out to explore the differences between the two, which could be used as a basis for policy analysis that might later involve the two countries and reform the bankruptcy law in Indonesia in the future. The comparison of bankruptcy law is carried out using a statutory approach, comparative approach, a conceptual approach, and a historical approach. There are differences between the two laws of Bankruptcy adopted by Indonesia and the Netherlands, especially in determining a business's bankruptcy status and settling the Debtor's remaining debt to creditors. Where each country's legal system closely influences these differences, it is concluded that through its development, the Netherlands has implemented the Debt Forgiveness principle, contrary to Indonesia's principles, which still adheres to the Debt Collection principle.

Bankruptcy serves to prevent the arising of a common pool problem and to ensure value maximisation of the debtor’s assets. The question is whether in addition to this goal of value maximization, it is efficient to allow the introduction of new substantive policies in the bankruptcy process as to redistribute wealth. The author, in light of Dutch and American bankruptcy law, compares several theories to answer this question about the goals of bankruptcy. He concludes that the introduction of substantive policies leads to inefficient forum shopping and that and the absolute priority of creditors and shareholders should be warranted as much as possible in bankruptcy.

The bankruptcy law exists to ensure justice for both creditors and debtors. This research aims at identifying matters needed to be reformed in bankruptcy law in Indonesia to create justice for creditors and debtors. Specifically, this research focused on the provisions of the termination of a plan achieved from the suspension of debt payment obligations (“PKPU”). This research was conducted using a normative juridical research method with a conceptual and comparative approach. The author examined the bankruptcy laws in Indonesia, evaluated several cases of plan termination in PKPU occurring in Indonesia, and later compared the rules in the bankruptcy laws applied in the United States of America, Netherlands, and Singapore Results of this study indicated that the provisions for plan termination in the bankruptcy law do not protect the debtors’ interests. From the termination plan cases in Indonesia, it was also found that there were confusions in the bankruptcy law in Indonesia in which it did not provide legal certainty for both debtors and creditors. The comparison between the bankruptcy laws in Indonesia to the bankruptcy laws in the United States of America, Netherlands, and Singapore also shows that the reform of bankruptcy law in Indonesia needs to be carried out to create flexibility for the implementation of the plan. These findings are discussed further in this article.

The main objective of this paper is to examine the effect of failing firms (firms which arepotential to be bankrupt) on auditor switching. Hypothesis was derived from Schwartz and Menon (1985) which implies that failing firms have a greater tendency to switch auditors than healthier firms do. The Z score (Altman model) was used as a proxy to measure the potential of bankruptcy. This method was applied since it has been developed in several countries such as US, Germany, Brazil, Australia, England, Ireland, Canada, the Netherlands, and France. Annual report and Indonesian Capital Market Directory were used to collect the data for a sample of 7 firms that changed their auditors and 7 firms that did not. Those four-teen (14) firms have been selected as sample among firms in consumer goods industries to answer the question about the impact of firns with potential to go bankrupt on auditor switching. Chi-Square result shows that firms with potential to go bankrupt could not influence auditor switching.Keywords: auditor switching, bankruptcy, Altman Z-Score, failing firm

The article points out at the discrepancy between the different Mss. of the Roman Justinianic text: Littera Pisana and Littera Bononiensis. The discrepancy entailed that the doctrine of medieval Ius Commune offered stronger protection of the collective rights of the creditors, in comparison with the Classical Roman law. The Roman Dutch “Elegant School”, despite its general reliance on the original Roman sources, already in the writings of Grotius demonstrated allegiance to the medieval doctrine on the issue of bankruptcy. The authors of the “Elegant School” continued to prefer the medieval interpretation of the creditors’ rights and bankruptcy, although Dutch practice was, in many respects, drastically different from the Ius Commune doctrine. This ensured a strong protection of creditors in bankruptcy in Dutch law.

In this contribution the topic of integrity of the bankruptcy trustee is being dealt with from a Dutch perspective, more specifically from the point of view of the creditors and their (lack of) influence on the appointment of the trustee. In this respect various questions are addressed: what does integrity or righteousness mean in the context of the appointment of a bankruptcy trustee and what do we mean when we are talking about a righteous trustee; why do we need a righteous trustee; and how do we reach our goal? After investigating the existing safeguards to prevent non-righteous persons to be enrolled or appointed as trustee, the position of the creditors is dealt with, especially with respect to their influence on the appointment of the trustee. A quick glance on various neighbouring jurisdictions, demonstrates that not much has been regulated in the Netherlands. As to the question whether or not more creditor involvement in the appointment process is required or desired, it is argued that there is no need to increase their influence because it is not to be expected that such influence will enhance the integrity of bankruptcy trustees.

AbstractThis article examines the formation of Scots ethnicity from the perspective of the corporate, ethnic enclave and treats Scots migrants as boundary-crossers, members of an ethnic group that could operate independently of a state-driven agenda. Beginning with the reaction in a particular Scots network to the mid-18th-century bankruptcy of a Scots merchant and progressing to an overview of Scots enclaves from the Netherlands to Poland-Lithuania, it argues that Scots traders in the North and Baltic Sea zones depended on and in turn deferred to enclaves of their fellow countrymen in conducting their lives and careers. Moreover, because they tended to provide poor relief on the basis of ethnicity and promote non-denominational codes of behavior, northern Europe's Scots enclaves could accommodate an ethnic identity somewhat shorn of confessional division. In this regard, the piece concludes, Scots seem to have operated like other boundary-crossers such as the Sephardim of northern Europe or the Armenians of New Julfa.

The Bankruptcy Proceedings Code of Ukraine provides for the possibility of imposing liability under the obligations of the debtor – a legal person on the founders (stakeholders, shareholders) or other persons who have the right to give mandatory instructions to the debtor or have the opportunity to otherwise determine his actions. As a result, "comfortable" organizational forms of companies, such as LLCs and JSCs, have become risky for investors; managers, who may be employees, bear risk too. The article analyzes the legislation of the EU and some EU member states (Germany, France, Spain, the Netherlands, Latvia, Romania), concerning the liability of individuals in insolvency proceedings. We find that the rules on such liability are not harmonized at the EU level; as for individual countries, their laws do provide for the possibility of holding both de jure and de facto directors, whereas the latter may include the founders (stakeholders, shareholders) of the company, for the debts of the company. At the same time, the legislation of European countries describes in great detail the conditions and procedure for imposing such liability, which makes the risks for the individuals concerned predictable. Moreover, special rules on liability in insolvency proceedings are systematically linked to the provisions of company law, which establish the obligation of directors to act with due diligence in the interests of the company and liability for knowingly making business transactions with the knowledge that the company is insolvent (wrongful trading). In Ukraine, there are absolutely no specific legal provisions on the conditions and procedure for holding even de jure directors to liable in insolvency proceedings, not to mention the founders (stakeholders, shareholders) of companies, which creates a situation of legal uncertainty. To eliminate it, the legislation of Ukraine should define: the range of individuals on whom such liability may be imposed; a specific list of actions, the commission of which may give rise to liability; the need to prove the guilt of such individuals; forms of guilt sufficient to be held liable (only intent or also negligence); procedural rules for establishing guilt, including the issue of the burden of proof; who may lay claim to a director (insolvency administrator, creditor, court); statutes of limitations on the liability of directors, etc.

Through the proposed amendment of the EU Directive 2012/30/EU, the European Commission seeks the EU-wide implementation of a Preventive Restructuring Framework. The key objective is reduction of the likelihood of insolvency of generally viable businesses with (temporary) financial difficulties. Parallel to the Commission’s efforts, the Dutch legislator published a detailed draft bill regulating the sanctioning of pre-insolvency composition. In the EU proposal and the Netherlands’ draft legislation, relevant tax implications are not addressed. This may cause uncertainty and incentives for parties involved that interfere with the objective of a pre-insolvency composition. This article examines the Dutch tax aspects – for the debtor and involved creditors and shareholders – of common discharge and restructuring solutions in a binding restructuring plan. With every subject, general tax aspects are identified that may be relevant for other jurisdictions as well. It shows that a pre-insolvency composition may have important tax implications and that in some cases creditors and shareholders could even prefer bankruptcy over restructuring. The authors consider that the Dutch scheme needs further clarification and believe it even requires specific tax regulation. The authors recommend other EU Member States to assess the national tax elements of a binding pre-insolvency composition upon the implementation of the Preventive Restructuring Framework.

This project aims to create a unique and most efficient large-scale farming of freshwater fish for daily consumption in Nigeria. According to the CGIAR African Fish Research Program 2019. Nigeria has one of the highest levels of fish consumption in Africa. In Nigeria, Africa's most populous country, fish is an important part of the household diet. Fish makes up about 40% of the protein consumed in the country, with fish consumption at 13.3 kg per person per year [17]. According 2021 Fish Information and Services report, Nigeria spends 250 billion naira approximately (US$560 million) annually on fish importation [6, 7]. The mainly import fish from Japan, Norway, Russia, United States and Netherlands. Nigerian’s population fish demand is approximately 3.3 million metric tons but the country is only able to produce 1.1 million metric tons locally. With a report on this study and as a Nigerian citizen who has lived in Nigeria and has a family living there, with current updates on the Nigerian fish market and its economic status. It is estimated that Nigeria lacks 60 percent of the fish production capacity equivalent to the country's fish consumption needs. Thus, investing in fish production in Nigeria is profitable and comes with the least investment risk of bankruptcy as consumers are always available to buy once you have a successful production [8, 9]. Thus, our company has enough market space and high demand for fish to succeed in the Nigerian fish market. This will allow our company to earn enough profit to repay the investment loan and interest on it within the agreed time frame agreed with our investors.

AbstractAs was the case with silversmiths (Note 3), many more cabinet-makers were wcrking in Amsterdam during the second half of the 18th century than in any other city in the Dutch Republic, the names of 195 of them being now known as opposed to 57 in The Hague and 32 in Rotterdam (Note 2). Most of those 195 names have been culled from the few surviving documents of the Guild of St. Joseph in Amsterdam, to which the cabinet-makers belonged (Note 4), supplemented by other sources, such as printed registers of craftsmen and shopkeepers (Note 6). Another important source is the newspaper the Amsterdamsche Courant with its advertisements placed by craftsmen themselves, with notices of sales, bankruptcies, lotteries and annual fairs and with advertisements concerning subsidiary or related trades. Since these advertisements were directed at the consumer, they often contain stylistic descriptions such as are not found elsewhere. Moreover, they aford valuable clues to archival material. Hence an investigation of all the advertisements from the years 1751-1800 has formed the basis for a study of Amsterdam cabinet-making, some results of which are presented here. Such a study is doomed largely to remain theoretical. The records can hardly ever be linked with surviving pieces, as these are virtually always anonymous since Amsterdam cabinet-makers were not required to stamp or sign their work. Moreover, only a few pieces of Dutch 18th-century furniture have a known provenance, so that it is only rarely possible to link a piece with a bill or another document and identify its maker. Thus it is not yet possible to form a reliable picture of a local Amsterdam style, let alone embark on attributions to individual makers (Note 8). In this light special importance may be attached to two commodes of the third quarter of the century which are exceptional in that they bear a signature, that of Andries Bongen (Figs. 1, 2, Notes 10, 11). These commodes, being entirely French-inspired, illustrate a specific and little-known aspect of Amsterdam cabinet-making. French furniture was so sought after in Amsterdam at that period that in 1771 a strict ban was imposed on its importation in order to protect local cabinet-makers (Note 12). It had begun to be imitated even before that and the commodes by Bongen exemplify this development. Andries Bongen, who was probably born in Geldern, south of Cleves and just east of the border of the Dutch Republic, is first recorded in Amsterdam in May 1763 on his marriage to Willemina, daughter of the smith Lambert van der Beek. He registered as a citizen on 5 July 1763 and became a master cabinet-maker some time between March 1763 and March 1764 (Note 19), so that, accordirtg to the Guild regulations, he must previously have trained for two years under an Amsterdam master (Note 20). At the time of his marriage he was living in St. Jorisstraat, but by the end of 1766 he had moved to Spui and between 1769 and 1771 he moved again, to Muiderpleinlje. When he and his wife made their will in 1772, their possessions were worth something under 8000 guilders (Note 23). This suggests that the business was quite flourishing, which seems to be confirmed by the fact that Bongen received a commission from the city of Amsterdam in 1771. Two more pieces were made for the city in 1786 and 1789, but in the latter year Bongen was declared bankrupt. The inventory of his possessions drawn up then (see Appeytdix) shows how parlous his conditions had become, his goods being valued at only 300 guilders. The reference to a shop indicates that Bongen sold his own furniture, although he had no stock to speak of at that point. The mention of eight work-benches, however, sugests that his output had previously been quite large. This is confirmed by the extent of his debts, notably that to the timber merchant Jan van Mekeren (Note 27). Other creditors included 'Rudolfeus Eyk', who probably supplied iron trelliszvork for bookcases and the like (Note 28), and the glass merchants Boswel en Zonen (Note 29) No debtors are listed and the only customer who can tentatively be identified is a 'Heer Hasselaar' who might be Pieter Cornelis Hasselaer (1720-95), several times burgomaster of Amsterdam between 1773 and 1794 (Note 30). Bongen died three years after his bankruptcy, at which time he was living in Nieuwe Looiersstraat. He appears to have continued working as a cabiytet-maker up to his death and his widow probably carried on the business until her own death in 1808, but nothing is known of this later period. The clearest insight into the character of part of Bongen's output is aforded by the advertisement he placed in the Amsterdamsehe Courant of 4 December 1766, describing three pieces of furniture 'in the French manner'. This is the first announcement by an 18th-century Amsterdam cabinet-maker of work in the French style. Bongen mentions two commodes decorated with floral marquetry, a technique which had flourished in Amsterdam in the late 17th and early 18th centuries (Note 34), but which had largely fallen into disuse on the advent around 1715 of a more sober type of furniture with plain walnut veneers on the English model (Note 36). In France a form of floral marquetry reappeared in the 1740s, being further developed in the following decade under the influence of Jean-François Oeben (1721-63). From the late 1750s there are indications of the presence of pieces of French marquetry furniture in the new style in Amsterdam (Notes 42, 43). The earliest explicit description of floral marquetry appears in a sale catalogue of 5 June 1765 (Note 44), while in another of 25 March 1766 (Note 46) many French pieces are detailed. Obviously, then, Bongen was endeavouring to capture a share, of this new market. The reappearance of elaborate marquetry on Amsterdam-made furniture was the result of a desire to emulate the French examples. The two commodes described in Bongen's advertisement can be identified with the one now in Amsterdam (Fig.2) and the one sold in London in 1947 (Fig.1). The latter still had more of its original mounts at the time nf the sale (Fig. 4) and the two probably formed a pair originally. The unusual fact that they are signed indicates that Bongen intended them to serve as show-pieces to demonstrate his skill at the beginning of his career (cf. Note 51, for another craftsman from abroad who began his career in Amsterdam by similarly advertising a spectacular piece). The commode in Amsterdam, with all its original mounts, demonstrates most clearly how close Bongen came to French prototypes, although his work has many personal traits nonetheless. In the marquetry the vase on a plinth on the front and the composition of the bouquets on the sides are notable (Fig.5), as are the large, full-blown blooms. The carcase, made entirely of oak, is remarkably well constructed and has a heavy, solid character. The commodes are outstanding for the complete integration of the marquetry and the mounts, in the manner of the finesl French furniture. The mounts presenl a problem, as it is not clear where they were made. They do not appear to be French or English, but one hesitates to attribute them to Amsterdam, as it is clear from documentary material that ornamental furniture-mounts were hardly ever made there in the second half of the 18th century. The mounts advertised by Ernst Meyrink in 1752 (Note 53) were probably still of the plain variety of the early part of the century and there is no further mention of mounts made in Amsterdam in the Amsterdamsche Courant. Once, in 1768, the silversmith J. H. Strixner placed an advertisement which refers to their gilding (Note 55). There is virtually no indication either of French mounts being imported and there is little Dutch furniture of this period that bears mounts which are indisputably French. In contrast to this, a large number of advertisements from as early as 1735 show that many mounts were imported from England, while among English manufacturers who came to sell their wares in Amsterdam were Robert Marshall of London (Note 60), James Scott (Note 61), William Tottie of Rotterdam (Note 62), whose business was continued after his death by Klaas Pieter Sent (Note 64), and H. Jelloly, again of Rotterdam (Notes 66, 67). It seems surprising that in a period when the French style reigned supreme so many mounts were imported from England, but the English manufacturers, mainly working in Birmingham, produced many mounts in the French style, probably often directed expressly at foreign markets. On the two commodes by Bongen only the corner mounts and the handles are of types found in the trade-catalogues of the English manufacturers (Figs. 7, 8, Notes 65, 70). The corner mounts are of a common type also found on French furniture (Note 71), so they doubtless copy a French model. The remaining mounts, however, are the ones which are so well integrated with the marquetry and these are not found elsewhere. Recently a third commode signed by Bongen has come to light, of similar character to the first two (Fig.3). Here all the mounts are of types found in the catalogues (Figs.7-10, Note 72). Apparently Bongen could not, or did not choose to, obtain the special mounts any more, although he clearly wanted to follow the same design (Fig. 6). This third commode was undoubtedly made somewhal later than the other two. The marquetry on it is the best preserved and it is possible to see how Bongen enlivened it with fine engraving. Because this piece is less exceptional, it also allows us to attribute some unsigned pieces to Bongen on the basis of their closeness to it, namely a commode sold in London in 1962 (Fig.11, Note 73) and two smaller, simpler commodes, which may originally have formed a pair, one sold in London in 1967 (Fig.12, Nole 74) and the other in a Dutch private collection (Figs.13, 14). The first one has a highly original marquetry decoration of a basket of flowers falling down. On the sides of this piece, and on the front of the two smaller ones, are bouquets tied with ribbons. These were doubtless influenced by contemporary engravings, but no direct models have been identified. The construction of the commode in the Netherlands tallies completely with tltat of the signed example in Amsterdam. The mounts are probably all English, although they have not all been found in English catalogues (Fig.15, Note 76). A seventh commode attributable to Bongen was sold in Switzerland in 1956 (Fig.16, Note 77). It is unusual in that walnut is employed as the background for the floral marquetry, something virtually unknown in Paris, but not uncommon on German work of French inspiration (Note 78). That commodes constitute the largest group among the furniture in the French style attributable to Bongen should cause no surprise, for the commode was the most sought after of all the pieces produced by the ébénistes not only in France, but all over Europe. Two other pieces which reveal Bongen's hand are two tables which look like side-tables, but which have fold-out tops to transform them into card-tables, a type seldom found in France, but common in England and the Netherlands (Note 80). One is at Bowhill in Scotland (Figs.17, 19, 20), the other was sold in London in 1972 (Fig.18, Note 79). The corner mounts on the Bowhill table, which probably also graced the other one originally, are the same as those on the two small commodes, while the handles are again to be found in an English catalogue (Fig.21, Note 81). What sounds like a similar card-table was sold at auction in Amsterdam in 1772 (Note 82). In Bongen's advertisement of 1766 mention is also made of a secretaire, this being the first appearance of this term in the Amsterdamsche Courant and Bongen finding it necessary to define it. No secretaire is known that can be attributed to him. A medal-cabinet in the form of a secretaire in Leiden (Figs.22, 23) hasfloral marquetry somewhat reminiscent of his work, but lacking its elegance, liveliness and equilibrium. Here the floral marquetry is combined with trompe l'oeil cubes and an interlaced border, early Neo-Classical elements which were first employed in France in the 1750s, so that this piece represents a later stage than those attributable to Bongen, which are all in a pure Louis xvstyle. Virtually identical in form to the medal-cabinet is a secretaire decorated solely with floral marquetry (Fig. 24, Note 87). This also appears not to be by Bongen, but both pieces may have been made under his influence. The picture we can form of Bongen's work on the basis of the signed commodes is clearly incomplete. His secretaire was decorated with '4 Children representing Trade', an exceptionally modern and original idea in 1766 even by French standards (Note 88). His ambitions in marquetry obviously wentfar beyondflowers, but no piece has yet beenfound which evinces this, nor is anything known of the Neo-Classical work which he may have produced after this style was introduced in Amsterdam around 1770. Bongen may perhaps have been the first Amsterdam cabinet-maker to produce marquetry furniture in the French style, but he was not to remain the only one. In 1771 and 1772 furniture in both the Dutch and French mode was advertised for sale at the Kistenmakerspand in Kalverstraat, where all furniture-makers belonging to the Guild of St. Joseph could sell their wares (Note 89). The 'French' pieces were probably decorated with marquetry. Only a small number of cabinet-makers are known to have worked in this style, however. They include Arnoldus Gerritsen of Rheestraat, who became a master in 1769 and sold his stock, including a 'small French inlaid Commode', in 1772, and Johan Jobst Swenebart (c.1747 - active up to 1806 or later), who became a master in 1774 and advertised in 1775 that he made 'all sorts of choice Cabinet- and Flower-works', the last term referring to furniture decorated with floral marquetry. Not only French types of furniture, but also traditional Dutch pieces were now decorated with French-inspired marquetry,for example a collector's cabinet advertised in 1775 by Johan Jacob Breytspraak (c.1739-95), who had become a master in 1769-70; a bureau-bookcase, a form introduced in the first half of the century probably under English influence (Note 100), exhibited in 1772 (Note 99); and a display cabinet for porcelain supplied, though not necessarily made, by Pieter Uylenburg en Zoon in 1775 (Notes 101, 102). Even long-case clocks were enriched with marquetry, witness the one advertised by the clock-maker J. H. Kühn in 1775 and another by him which was sold by auction in Edam in 1777 (Note 104). The latter was, like the bureau-bookcase exhibited in 1772, decorated with musical instruments, again a motif borrowed from France, where it was used increasingly from the 1760s onwards (Note 105). A clock signed by the Amsterdam clock-maker J. George Grüning also has a case with marquetry of musical instruments. This must date from about 1775-80, but its maker is unknown (Fig. 25, Notes 106, 107). All four of the Amsterdam cabinet-makers known to have done marquetry around 1770 came from Germany and all were then only recently established in Amsterdam. In fact half of the 144 Amsterdam cabinet-makers working in the second half of the 18th century whose origins it has been possible to trace came from Germany, so the German element was even stronger there than in Paris, where Germans comprised about a third of the ébénistes (Note 108) and where they had again played an important role in the revival of marquetry. None qf the four in Amsterdam was exclusively concerned with marquetry. Indeed, for some of them it may only have been a secondary aspect of their work. This was not true of Bongen, but he too made plain pieces, witness the four mahogany gueridons he made for the city of Amsterdam in 1771 or the two cupboards also made for the city in 1786 and 1789 (Notes 111, 112).No marquetry is listed in his inventory either. Perhaps fashions had changed by the time of his bankruptcy. Such scant knowledge as we have of Amsterdam cabinet-making between 1775 and 1785 certainly seems to suggest this. In the descriptions of the prizes for furraiture-lotteries, such as took place regularly from 1773 onwards (Note 114), marquetry is mentioned in 1773 and 1775 (Notes 115, 116), but after that there is no reference to itfor about tenyears. Nor is there any mention of marquetry in the very few cabinet-makers' advertisements of this period. When the clock-maker Kühn again advertised long-case clocks in 1777 and 1785, the cases were of carved mahogany (Notes 121, 122). Certainly in France the popularity of marquetry began to wane shortly before 1780 and developments in the Netherlands were probably influenced by this. Towards the end of the 1780s, however, pieces described as French and others decorated with 'inlaid work' again appear as prizes in lotteries, such as those organized by Johan Frederik Reinbregt (active 1785-95 or later), who came from Hanover (Note 128), and Swenebart. The latter advertised an inlaid mahogany secretaire in 1793 (Note 132) and similar pieces are listed in the announcement of the sale of the stock of Jean-Matthijs Chaisneux (c.1734-92), one of a small group of French upholsterers first mentioned in Amsterdam in the 1760s, who played an important part in the spread of French influence there (Note 134). In this later period, however, reference is only made to French furniture when English pieces are also mentioned, so a new juxtaposition is implied and 'French' need not mean richly decorated with marquetry as it did in the 1760s. In fact the marquetry of this period was probably of a much more modest character. A large number of pieces of Dutch furniture in the late Neo-Classical style are known, generally veneered with rosewood or mahogany, where the marquetry is confined to trophies, medallions on ribbons, geometric borders and suchlike. A sideboard in the Rijksmuseum is an exceptionally fine and elaborately decorated example of this light and elegant style (Fig. 26) None of this furniture is known for certain to have been made in Amsterdam, but two tobacco boxes with restrained marquetry decoration (Fig.27, Note 136) were made in Haarlem in 1789 by Johan Gottfried Fremming (c.1753-1832) of Leipzig, who had probably trained in Amsterdam and whose style will not have differed much from that current in the capital. Boxes of this type are mentioned in the 1789 inventory of the Amsterdam cabinet-maker Johan Christiaan Molle (c.1748-89) as the only pieces decorated with inlay (Note 138). In the 1792 inventory of Jacob Keesinger (active 1764-92) from Ziegenhain there are larger pieces of marquetry furniture as well (Note 139), but they are greatly in the minority, as is also the case with a sale of cabinet-makers' wares held in 1794 (Note 141), which included a book-case of the type in Fig.28 (Note 142). Similarly the 1795 inventory of Johan Jacob Breytspraak, one of the most important and prosperous cabinet-makers of the day, contains only a few marquetry pieces (Note 144). The 1793 inventory of Hendrik Melters (1720-93) lists tools and patterns for marquetry, but no pieces decorated with it (Note 145). Melters seems to have specialized in cases for long-case clocks, the Amsterdam clock-maker Rutgerus van Meurs (1738-1800) being one of his clients (Note 146). The cases of clocks signed by Van Meurs bear only simple marquetry motifs (Note 147). The Dutch late Neo-Classical furniture with restrained marquetry decoration has no equivalent in France; it is more reminiscent of English work (Note 148). The pattern-books of Hepplewhite and Sheraton undoubtedly found their way to the Dutch Republic and the 'English' furniture mentioned in Amsterdam sources from 1787 probably reflected their influence. However, the introduction of the late, restrained Neo-Classical style in furniture was not the result of English influence alone. Rather, the two countries witnessed a parallel development. In England, too, marquetry was re-introduced under French influence around 1760 and it gradually became much simpler during the last quarter of the century, French influences being amalgamated into a national style (Notes 150, 151). On the whole, the Frertch models were followed more closely in the Netherlands than in England. Even at the end of the century French proportions still very much influenced Dutch cabinet-making. Thus the typically Dutch late Neo-Classical style sprang from a combirtation of French and English influences. This makes it difficult to understand what exactly was meant by the distinction made between ;French' and 'English' furniture at this time. The sources offer few clues here and this is even true of the description of the sale of the stock of the only English cabinet-maker working in Amsterdam at this period, Joseph Bull of London, who was active between 1787 and 1792, when his goods were sold (Notes 155, 156).

PurposeFlood damage to uninsured single-family homes shifts the entire burden of costly repairs onto the homeowner. Homeowners in the United States and in much of Europe can purchase flood insurance. The Netherlands and Asian countries generally do not offer flood insurance protection to homeowners. Uninsured households incur the entire cost of repairing/replacing properties damaged due to flooding. Homeowners’ policies do not cover damage caused by flooding. The paper examines the link between personal bankruptcy and the severity of flooding events, property prices and financial condition levels.Design/methodology/approachA fully modified ordinary least squares (FMOLS) regression model is developed which uses personal bankruptcy filings as its dependent variable during the years 2000 through 2018. This time-series model considers the association between personal bankruptcy court filings and costly, widespread flooding events. Independent variables were selected that potentially act as mitigating factors reducing bankruptcy filings.FindingsThe FMOLS regression results found a significant, positive association between flooding events and the total number of personal bankruptcy filings. Higher flooding costs were associated with higher bankruptcy filings. The Home Price Index is inversely related to the bankruptcy dependent variable. The R-squared results indicate that 0.65% of the movement in the dependent variable personal bankruptcy filings is explained by the severity of a flooding event and other independent variables.Research limitations/implicationsThe severity of the flooding event is measured using dollar losses incurred by the National Flood Insurance program. A macro-case study was undertaken, but the research results would have been enhanced by examining local areas and demographic factors that may have made bankruptcy filing following a flooding event more or less likely.Practical implicationsThe paper considers the impact of the natural disaster flooding on bankruptcy rates filings. The findings may have implications for multi-family properties as well as single-family housing. Purchasing flood insurance generally mitigates the likelihood of severe financial risk to the property owner.Social implicationsNatural flood insurance is underwritten by the federal government and/or by private insurers. The financial health of private property insurers that underwrite flooding and their ability to meet losses incurred needs to be carefully scrutinized by the insured.Originality/valuePrior studies analyzing the linkages existing between housing prices, natural disasters and bankruptcy used descriptive data, mostly percentages, when considering this association. The study herein posits the same questions as these prior studies but used regression analysis to analyze the linkages. The methodology enables additional independent variables to be added to the analysis.

More than 90% of the water supply companies in Indonesia are in serious trouble and face bankruptcy. Water services are poor and the situation is worsening. The critical condition of the water companies is due to several factors, amongst others the lack of know-how in the company, the political influence in human resource management and on water price. These factors prevented the introduction of sound economical principles for the daily management. As the income of the company did not cover all costs, service hours were reduced and finally led to the negative spiral resulting in the current troublesome situation. Water supply company Drenthe (WMD), together with local Indonesian Government and central Government in the Netherlands, developed a long-term public-private partnership approach for the development of water supply companies in Eastern Indonesia. Customer relations and introduction of new billing procedures are of highest importance for the success of the approach. The new water companies can only operate successfully when the willingness to pay is restored and when the cash flow is secured. Important elements in this field are the introduction of a computer system supporting the monthly billing system and an innovative pilot with digital water meters.

Wage formation in times of crisis Wage formation in times of crisis The article studies how wage formation in the Netherlands developed since the economic crisis of the end of 2008. Employers’ organisations and trade unions responded to the crisis with a historic novelty. They broke up the national framework agreement for 2009 and negotiated a new framework better adapted to the new conditions. This so-called Spring Agreement 2009 encouraged negotiators for new collective contracts to moderate wage growth. Half a year later the average wage increase had indeed declined to 1%. Inter-sectoral differences in economic development hardly played a role in the wage negotiations, but the expiration date of the collective contract was important. Collective contracts agreed upon before the Spring Agreement show higher wage increases than collective contracts established after the Spring Agreement. Numbers confirm that social partners did not break up collective contracts (unless a bankruptcy is near), but followed the centrally agreed framework in negotiations for a new collective contract. Consequently, a collective wage freeze was agreed upon for more than two million employees in about 30 percent of the collective agreements. In exchange, these employees received extra holidays, a higher personal benefit budget and/or an incidental benefit. In some collective agreements parties did agree a conditional collective wage increase, dependent on business results. All in all, in the wage formation process Dutch corporatism reacted quickly and adequately to the new conditions.

Peter Debaere of Darden Business School, University of Virginia reviews “Water Pricing Experiences and Innovations”, by Ariel Dinar, Victor Pochat, and Jose Albiac-Murillo. The Econlit abstract of this book begins: “Twenty-two papers examine water pricing experiences in various countries from 2000 to 2015. Papers discuss water pricing in Australia—unbundled politics, accounting, and water pricing; water pricing in Brazil—successes, failures, and new approaches; water pricing in Canada—recent developments; water pricing in Chile—decentralization and market reforms; water pricing in China— the impact of socioeconomic development; water pricing in Colombia—the transition from bankruptcy to full-cost recovery; water pricing in France—moving toward more incentives to conserve water; water pricing experiences in India—emerging issues; water pricing in Israel—various waters, various neighbors; water pricing in Italy—beyond full-cost recovery; water pricing in Mexico—pricing structures and implications; water pricing in the Netherlands; New Zealand water pricing; water pricing—the case of South Africa; water pricing in Spain—following the footsteps of somber climate change projections; introducing new mechanisms into water pricing reforms in China; how to integrate social objectives into water pricing; sustainable water rate design at the Western Municipal Water District—the art of revenue recovery, water use efficiency, and customer equity; pricing urban water services in the developing world—the case of Guayaquil, Ecuador; the price for domestic water supply—an innovative method developed for the Tucano aquifer in the state of Bahia, Brazil; pricing for reclaimed water in Valencia, Spain—externalities and cost recovery; and pricing municipal water and wastewater services in developing countries—whether utilities are making progress toward sustainability. Dinar is a professor of environmental economics and policy with the School of Public Policy at the University of California, Riverside. Pochat is a professor at the National University of Litoral. Albiac-Murillo is a researcher at the Agrifood Research and Technology Center and a professor at the University of Zaragoza.”

This paper discusses reconciliation as a strategy to heal social wounds caused by dictatorial regimes or deep economic crises. The paper treats two such examples: The failed attempts of the Icelandic government to reach a deal with the UK and the Netherlands about the repayment of debts incurred by the bankrupt Landsbanki Íslands and the prosecution of Mr. Geir Haarde, formerly Prime Minister of Iceland. It is argued that although reconciliation strategies have in some cases been partially successful, it can be counterproductive to prefer moral aspirations or goals, such as rebuilding trust after serious political, social or economic disintegration, to strictly legal ways of dealing with individual cases. As the case with Mr. Haarde shows, the endeavor to achieve moral goals using legal means can backfire in unexpected ways.