NautaDutilh assist Dutch State on EUR 12 billion COVID-19 state aid reinsurance scheme for trade credit insurance
The Dutch government has implemented a EUR 12 billion state aid reinsurance scheme to stabilise the trade credit insurance market during the COVID-19 outbreak. Trade credit insurance is an essential part of the trade supply chain by enabling companies to protect themselves from the risk of non-payment by their clients. Given the economic impact of the COVID-19 outbreak, the risk of insurers not being willing to issue this insurance became significantly higher. The Dutch scheme ensures that trade credit insurance continues to be available, avoiding the need for buyers of goods or services to pay in advance and limiting disruptions in the trade supply chain.
NautaDutilh is proud to have assisted the Dutch State in setting-up this state aid measure aimed at helping the Dutch economy and Dutch companies during these very difficult times. NautaDutilh assisted the State in the State Aid Notification and approval procedure with the European Commission. The NautaDutilh team furthermore led the negotiations with the participating credit insurers together with the State and drafted all scheme documentation.
The team assisting the Dutch State on the State Aid Notification and obtaining approval from the European Commission was led by Mauricette Schaufeli and included Evi Mattioli, Paul Deza de Massiac, Michelle Slimmen and Felix Seuntjens.
The team leading the negotiations on behalf of the Dutch State with the credit insurers and drafting the scheme reinsurance documentation was led by Jasha Sprecher and included Edger Kleijer, Larissa Silverentand and Janneke Reijnders.
For more information about State Aid, read our COVID-19 State Aid tracker.