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A recent Supreme Court ruling has put a practical end to the
effectiveness – in relation to third parties – of
clauses in contracts prohibiting assignment or pledge of
receivables. The ruling means that if a debtor does not want a
creditor to freely assign his position to a third party, the debtor
will have to specifically provide in the contract that the clause
should have effect vis-à-vis third parties.
We recently issued a
Legal Alert about this ruling (in Dutch only).
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
