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The Dutch Supreme Court recently ruled that a purchaser who has acquired a good subject to retention of title can establish a pledge on that good, which is unaffected by the purchaser's bankruptcy.
The Dutch Supreme Court recently ruled that a purchaser who has
acquired a good subject to retention of title can establish a
pledge on that good, which is unaffected by the purchaser's
bankruptcy. According to the Dutch Supreme Court, the purchaser
obtains contingent ownership of the good before the purchase price
has fully been paid. The purchaser can pledge or transfer
contingent ownership under the same condition to which the good was
originally acquired. This means that the purchaser can establish a
pledge on the good under retention, which grows into a pledge on
the full ownership of the good when the full purchase price is
paid. The bankruptcy of the purchaser does not preclude this
possibility. Pledgees are advised to stipulate in the deed of
pledge that the pledge is also established on goods transferred
under retention of title.
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