Stek successful in appeal proceedings on unlawful termination of loan agreement

Stek successfully represented German entities Beacon and Catana in appeal proceedings before the Amsterdam Court of Appeal on the unlawful termination of a loan agreement in the amount of EUR 2 million by Japanese Nissui Group. The Amsterdam Court of Appeal nullifies the judgment of the Amsterdam District Court and rules that no event of default existed and that invoking an event of default under the given circumstances was unacceptable according to the standards of reasonableness and fairness.

Click here for the interim judgment and here for the final judgment (both in Dutch).

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