Restructuring

Articles - On 1 January 2021, the legislative framework for court-approved restructurings of debts outside formal insolvency proceedings (hereafter referred to as the ‘Dutch scheme’, or simply, the ‘scheme’) entered into force. Under the Dutch scheme a debt restructuring plan can be submitted to the creditors for voting, whereby a majority can bind a minority within each class of creditors and the competent court has the power to make the plan binding on dissenting classes of creditors.

Articles - The Chambers Banking & Finance 2020 Global Practice Guide covers 34 jurisdictions and discusses the impact of COVID-19, the high-yield market, restrictions on foreign lenders granting loans or security, foreign currency exchange, debt buy-back, withholding tax, guarantees and security, bankruptcy and insolvency, and EHS laws.

Short Reads - As mentioned in our earlier blog, the Dutch legislator has prepared a bill – the Act on confirmation of private restructuring plans (Wet homologatie onderhands akkoord) – which introduces a framework allowing debtors to restructure their debts outside formal insolvency proceedings (the “Dutch Scheme“).

Short Reads - Op 31 juli 2019 is de Richtlijn digitale instrumenten en processen in het vennootschapsrecht in werking getreden. Deze richtlijn maakt in bepaalde gevallen een volledig digitale oprichting van vennootschappen mogelijk. Nederland heeft tot 1 augustus 2021 de tijd om de richtlijn om te zetten naar Nederlands recht.

Articles - Bij grote (acquisitie)financieringen zijn veelal verschillende (soorten) crediteuren betrokken. Het is niet ongebruikelijk dat bij die financieringen gebruik wordt gemaakt van een gelaagde financieringsstructuur wat betreft de aan te trekken leningen (niet zijnde aandeelhoudersleningen). Dat wil zeggen dat de verstrekkers van die leningen ten aanzien van hun vorderingen een bepaalde rangorde overeenkomen.

Articles - Under the Business Loan Guarantee Scheme (Garantie Ondernemingsfinanciering, GO) (the "GO-scheme") the Dutch State guarantees up to 50% (recently updated to 90% as part of coronavirus measures) of the principal amount of eligible facilities made available to large and medium-sized companies in the Netherlands by participating lenders

Seminar - Stibbe will host its annual Debt Finance seminar in Amsterdam on Thursday 6 February. The seminar will feature our lawyers discussing the most vital legal developments and the impact on national and international financing practice.

Inside Stibbe - Luxembourg, 17 January 2020 – Stibbe reinforces its corporate & finance and asset management/funds practices in Luxembourg with the hire of Bernard Beerens (corporate partner), Audrey Jarreton (banking and finance counsel), Edouard d’Anterroches (investment funds partner), Victorien Hémery (investment funds partner), and Dayana Bert (investment funds counsel). Their arrival comes after the recent hire of tax partner Johan Léonard. All of these new additions demonstrate the firm’s commitment to expanding Stibbe’s service offering in Luxembourg.