Upcoming legis­la­tion for a Dutch ver­sion of a Scheme of Arrangement

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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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"In case of financial trouble, seeking advice at an early stage is crucial to avert bankruptcy."

Robin de Wit

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