Welcome to Greenberg Traurig’s LIBOR Transition Newsletter, where we provide updates, analysis, and occasional commentary on the latest developments relating to the highly anticipated phasing-out of LIBOR at the end of 2021 – barely two years from now. Questions addressed in this issue: Why is LIBOR being phased out? What will be the immediate effect? Where are we now? Are market participants ready for LIBOR replacement? What should market participants be doing now? Documentation and…

The Amsterdam office of global law firm Greenberg Traurig, LLP represented InterXion (NYSE: INXN), a leading European provider of cloud- and carrier-neutral colocation data center services, in a business combination with Digital Realty (NYSE: DLR). The transaction values InterXion at approximately USD 93.48 per share or USD 8.4 billion of total enterprise value in an all-stock deal, based on Digital Realty’s closing price on Monday. This strategic transaction is the largest in the history of the…

This GT Alert provides an update on employment and pension law in the Netherlands for 2019. Topics covered include diversity in boards of larger companies; the Balanced Labour Market Act (Wab), effective 1 January 2020; amendments to restructuring rules applied by the Employee Insurance Agency (UWV), effective 1 October 2019; Dutch pension system reforms; and Pending acts and regulations, including Transfer of Undertaking in Bankruptcy Act (Wet overgang van onderneming in faillissement), changes to civil…

On October 1, 2019 the Court of Justice of the European Union (CJEU) issued a new judgment on the use of cookies which, under the EU E-Privacy Directive, requires users’ informed consent. The court decided that the cookies consent cannot be obtained by using a pre-ticked consent checkbox; and information must be provided to users which includes the duration of the operation of cookies and whether third parties may have access to the cookies. To …

On Sept. 24, 2019, the Court of Justice of the European Union (CJEU) decided that the “right to be forgotten” does not require a search engine operator to carry out de-referencing on non-EU member state versions of its search engine. The case relates to a penalty of €100,000 that the French data protection authority, CNIL, had imposed on Google in March 2016. In granting a de-referencing request, the search engine – on free speech grounds…

In a historic decision issued 24 September 2019, the UK Supreme Court ruled that the UK prime minister, Boris Johnson, acted unlawfully when he advised the Queen to prorogue, or suspend, the UK Parliament for five weeks, until 14 October 2019. The effect of the very clear and unanimous decision of the 11 Supreme Court judges is that Parliament was not in fact suspended and can immediately resume its work. This in turn means that Parliament…

Introduction Effective 1 October 2019, the Dutch Code of Civil Procedure (DCCP) will partly be revised. This revision is related to the failed digitalization of the Dutch judicial system: Program Quality and Innovation of Justice (in Dutch: Programma Kwaliteit en Innovatie Rechtspraak (KEI)). Only the district courts of Gelderland and Midden-Nederland have switched to the new digital system and accompanying procedural rules. This means there are different litigation systems for different Dutch courts. To harmonize…