On 15 June 2017 the European Court of Justice held that disputes related to a credit agreement must be brought before the court of the state in which the credit institution is located. A credit institution can therefore bring a claim for repayment of a debt before the court of the state in which the credit institution is located. The same applies for recourse claims brought by jointly and severally liable debtors. The judgment is directly applicable in all member states of the European Union except Denmark.
Frank van de Wakker advises both national and international clients, particularly in the area of financing, securities and insolvency.