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WHOA - the new Dutch scheme

 

16 July 2019

The available options to successfully restructure financially distressed, but viable businesses in the Netherlands are about to improve substantially if the Dutch government approves the draft act on the confirmation of private restructuring plans (the Wet homologatie onderhands akkoord (WHOA)) which was officially submitted to parliament on 5 July 2019.

The WHOA has been prepared in close consultation with legal practitioners and with considerable attention to European and global bankruptcy law developments, in particular the recently adopted Preventive Restructuring Framework Directive. Therefore, the WHOA builds upon the most favourable provisions and developments in global restructuring law and we think it will be of interest to many global restructuring professionals and distressed debt investors.

How does the new Dutch scheme compare with the English scheme?

As the Netherlands takes steps to legislate for the introduction of a new restructuring tool, with similarities to the English scheme of arrangement and company voluntary arrangements and the U.S.

Chapter 11 procedures, we consider the impact this might have on the global restructuring market and the ability to deliver restructuring solutions for clients


 

 

 

 

 

 

 

 

 

 

 

 

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Key people

Sigrid Jansen
Sigrid Jansen
Partner
Netherlands
Telephone icon+31 20 674 1168
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Jennifer Marshall
Jennifer Marshall
Partner
United Kingdom
Telephone icon+44 20 3088 4743
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Aroen Kuitenbrouwer
Aroen Kuitenbrouwer
Partner
Netherlands
Telephone icon+31 20 674 1142
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Andrew Thomas
Andrew Thomas
Partner
Netherlands
Telephone icon+31 20 674 1402
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Brechje van der Velden
Brechje van der Velden
Senior Partner
Netherlands
Telephone icon+31 20 674 1580
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Rens Bondrager
Rens Bondrager
Counsel
Netherlands
Telephone icon+31 20 674 1314
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Simon Aarts
Simon Aarts
Associate
Netherlands
Telephone icon+31 20 674 1775
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Related expertise

 

Restructuring

 

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