Job van Hooff and Daisy Nijkamp, in collaboration with Lexology, will present a webinar on WHOA on 2 April 2020. During the webinar they will look at a new bill prepared by the Dutch legislature - the Act on the Confirmation of Private Restructuring Plans (Wet homologatie onder onderhand akkoord) - which introduces a framework that makes it possible for debtors to restructure their debts outside formal insolvency proceedings.
The Dutch Scheme combines features of the UK scheme of arrangement, and Chapter 11 proceedings from the US. The highly anticipated bill is expected to enter into force later this year. Last week Job, together with colleague Toni van Hees, made an appeal to speed this process up due to the current corona crisis.
The webinar will cover:
- who can take the initiative for the Dutch scheme;
- how the procedure works and how fast it can go;
- which measures a company can implement through a plan under the Dutch scheme – it offers a lot of flexibility;
- how the plan can affect the rights of creditors and shareholders – confirmation, cross class cram down, and the absolute priority rule;
- when the Dutch scheme can be used – the jurisdiction of the Dutch court, and recognition of the plan in other jurisdictions.
Date: 2 April 2020 (17:00 – 18:00 Amsterdam time)
For more information or to register, please go to: https://www.lexology.com/Events/Details/7864 (Lexology login needed)
The webinar will be held in English.
More about the coronavirus
You can read more publications on the impact of the coronavirus on our website. Here you will also find a list of contacts within our organisation who can advise you with questions about the implications of the coronavirus for your company.