The Dutch Scheme of Arrangement is coming – New restructuring opportunities abound
On 14 August 2014, the draft bill on the Continuity of Companies Act II (Wet continuïteit ondernemingen II) went into public consultation. The draft bill is influenced by a proposal made in 2013 by our partners Ruud Hermans and Reinout Vriesendorp and was extensively pre-discussed with experts from relevant market parties and other stakeholders. The proposal provides for a restructuring procedure inspired by international restructuring practices, in particular the English scheme of arrangement and US Chapter 11 proceedings. The bill will be one of the most significant amendments of the Dutch Bankruptcy Act in decades.
On 11 September De Brauw discussed the upcoming bill and the opportunities it may have to offer with its clients. Below you can view the video registration of this event and the relevant presentations and documentation.
Peter Declercq compares and contrasts the bill with the established English scheme of arrangement and address how the English experience & practice may influence how the new bill is used for future Dutch restructurings.
Peter J.M. Declercq is partner in the London business reorganisation practice of Schulte Roth & Zabel LLP
Presentation Peter Declercq