His proficiency in managing cases related to the WHOA, also known as the Dutch Scheme, is noteworthy. His expertise extends to a variety of legal challenges in the financial sector, including disputes over financial products, the duty of care (zorgplichten), and enforcement by regulators. He is also experienced in providing strategic advice to directors on their potential liabilities in the face of impending insolvency.
With over 10 years experience, Simon is adept at navigating the complexities of both restructurings and high-stakes litigation within the financial sector. He has worked with major international clients across jurisdictions and in multiple sectors including financial services, shipping and retail.
Simon Aarts
Senior Associate
Simon is an experienced litigator specializing in the financial sector, with a keen expertise in restructuring and insolvency matters.
Expertise
Industries
Experience
Representative matters
A shipbuilding company on two restructurings of the group in 2020 and 2023, including giving board advice and defending a WHOA plan before the courts against opposition from a syndicated lender.
A shipping company in the restructuring of its group including defending a WHOA plan before the courts against opposition from the shareholder and a creditor.
RCF Lenders in the restructuring of the HEMA Group, including defending an enforcement of a share pledge before the courts.
A Dutch bank in proceedings started by the former shareholder after a debt-to-equity-swap and insolvency of a group of companies.
A Dutch bank in multiple (court) cases relating to the termination of banking relationships.
An insurer in proceedings before the Dutch courts on a mis-selling claim of unit-linked insurance products.
Published Work
- S.R.F. Aarts & T. Hutten, ‘Algemene fraudepreventie vanwege een bijzondere bancaire zorgplicht?’, Tijdschrift voor Financieel Recht 2024 nr. 1/2.
- B.W.G. van der Velden, T.M. Sweerts & S.R.F. Aarts, ‘Procederen over duurzaamheid in de bancaire sector’, in: F.P.C. Strijbos, B.A. Schuijling, B. Bierens, P.E.H. Cent (red.), Duurzaam Bankieren (Onderneming en Recht nr. 143), Deventer: Wolters Kluwer 2023.
- S.R.F. Aarts & S. Jansen, ‘De belangrijke rol van bestuurders en commissarissen onder de WHOA’, in: L.J.J. Kerstens, B. Rikkert, M.A. Broeders, R.F. Feenstra (red.), Wet Homologatie Onderhands Akkoord (Insolad Jaarboek 2021), Deventer: Wolters Kluwer 2021, p. 139-178.
- S.R.F. Aarts & G.A.C. Orban, De WHOA en de ‘Steen der Wijzen’ – panacee of placebo?, ars aequi 2021, p. 793-803.
Leadership Positions And Professional Affiliations
- Member Dutch Association of Corporate Litigation
- Member Dutch Association of Insolvency Lawyers (INSOLAD)
Qualifications
Admissions
Admitted as advocaat, Netherlands, 2014
Listed in the register of legal practice areas of the Dutch Bar Association for insolventierecht (Insovency law).
Academic
Dutch law, Radboud University Nijmegen 2013
Languages
Dutch, English
Disclaimer
A&O Shearman was formed on May 1, 2024 by the combination of Shearman & Sterling LLP and Allen & Overy LLP and their respective affiliates (the legacy firms). Any matters referred to above may include matters undertaken by one or more of the legacy firms rather than A&O Shearman.