A number of leading Dutch developers are on the ropes following the collapse of the real estate market. At end-April, Eurocommerce's creditors seized office buildings ahead of a court decision on the company’s insolvency. The Deventer-based developer is struggling to refinance a EUR 770 mln loan with a group of Dutch banks including ABN Amro, NIBC, Rabobank, SNS en ING and has outstanding payments totalling some EUR 80 mln.
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