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  • Deal or case news
  • 29-03-2018

In a very outspoken decision, the Rotterdam Court has lifted COFCO's attachments against Nidera's former shareholder Cygne and it directors. The Court found that in view of the security already available to COFCO in the form of an escrow, COFCO had not in any way substantiated its alleged claim of over USD 500 million.

The way COFCO obtained additional security by making these attachments: "heeft aspecten van een verkapt appel in zich en neigt naar het maken van misbruik van beslagrecht.", the Court held.

The decision can be read here (only available in Dutch).

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