Dutch Supreme Court confirms possibility to change the priority of rights of pledge (without releasing them)
On 9 April 2021, the Dutch Supreme Court has confirmed the possibility to change the priority of rights of pledge (pandrechten) in deviation of the prior tempore rule. A change to the priority of rights of mortgage is explicitly stated in the Dutch Civil Code and is therefore without doubt possible. In relation to rights of pledge such change to the priority was not stated in the Dutch Civil Code and therefore it was previously not clear as to whether…