The inaugural lecture pertains to the Dutch Intervention Act. This Act has conferred broad powers on the Dutch Central Bank and the Minister of Finance to intervene in the affairs of banks and insurers that are facing serious problems. Unfortunately, to a large extent the Act neglects the interests of creditors and counterparties. These parties can actually loose certain contractual rights and are limited in the exercise of certain contractual rights. The inaugural lecture aims to have the Intervention Act amended on both issues.
By expressing his inaugural lecture on 27 September 2013 Professor Pim Rank is accepting his appointment as professor of Financial Law at the Leiden Law School of Leiden University.