Upcoming legislation for a Dutch version of a Scheme of Arrangement

Alert

In line with the European draft directive regarding preventive restructurings (2016/0359), the Dutch legislator has submitted a new piece of legislation for a Dutch Scheme of Arrangement / Chapter 11 procedure – the Act on the Confirmation of Private Restructuring Plans (ACPRP, or WHOA in Dutch, Wet Homologatie Onderhands Akkoord) to parliament. The purpose of the legislation is to provide the Netherlands with an effective and flexible tool to restructure viable enterprises and to prevent their bankruptcies.

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"Bij financiële problemen is tijdig advies inwinnen cruciaal om een faillissement af te wenden."

Robin de Wit

robin.de.wit@hvglaw.nl +31 88 407 04 49