Navigating uncertainties

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A new perspective required

As financial markets are starting to recover from rate shocks, rampant inflation and other macro-economic challenges, companies have only just begun to feel the impact on their business models – requiring boards to adopt a new perspective.

Impact on business models requires new perspective
Whether it is COVID, soaring energy prices, interruption of supply, trade restrictions or unexpected public activism, in today's reality boards are increasingly exposed to unprecedented, major challenges without much time to prepare and adjust to the new circumstances.

Companies may have to deal with special situations, crisis management and stakeholder dynamics emerging from disruptive events

Most external events have a natural owner in the company and, considered in isolation, may seem clearly defined and manageable. However, the ripple effect, especially if coupled with other developments, may have a wider disruptive impact. No individual in the company will have complete oversight, which means that these types of events require the immediate attention of senior management and are, as such, executive matters by nature.

We can help companies weather the storm

Our team draws on years of experience dealing with special situations, crisis management, governance and stakeholder dynamics during disruptive events. We help map exposure to liabilities and third party involvement (concentration risk), and help to build a contingency plan. Communication, clearly defined roles and ability to rapidly scale up or down are must-haves for companies from day one. On these pages, we help identify other points to focus on, do's and don'ts, and lessons learned from live cases. We deliver insights on potential consequences and considerations to be taken into account when navigating uncertainties, and offer "no regret" desktop preparations. See more below.

Potential impact

Liquidity: Keep control of the process
The limitations and covenants in debt instruments go beyond the financial covenant report. A refresher of what those are prevents surprises and keeps you in control of the process towards lenders.

Annual accounts: Be prepared for auditor discussions
Auditors will require a view on the impact of the developments. If that impact may be material, expect serious discussions in this year's annual audit.

Tax: Be aware of pitfalls and opportunities
Mapping out potential tax consequences and related actions is key.

Financing: Scenario planning is key
Pending M&A, commercial, financing and capital markets transaction processes may be paused, slowed down or reconsidered.

Commercial contracts: Map risks and uncertainties
Counterparties may also be looking to terminate or renegotiate existing commercial contracts.

Pro-actively focus on no-regret preparations to retain full optionality to address such potential impact.

PROACTIVE PREPARATIONS

Insights

13 February 2026

Side-by-side: will acceptance of US minimum taxation standards impact EU competitiveness?

On 5 January 2026, the OECD published the Side-by-Side (SbS) Package. This package complements the OECD Inclusive Framework's model rules aimed at securing global 15% minimum taxation for large multinationals (referred to as "Pillar 2"). These minimum taxation rules have been implemented within the EU with effect from 1 January 2024.
29 January 2026

Expanded regulatory screening of Energy/Infra M&A

With the new Energy Act (Energiewet) entering into force on 1 January 2026, the Electricity Act 1998 (Elektriciteitswet 1998) and the Gas Act (Gaswet) are now integrated into a single legal framework. The Energy Act modernises Dutch energy law to reflect the energy transition, evolving market dynamics and updated EU regulations. A key question is how it will affect transactions in the energy sector, especially given the new approval requirements and notification obligations that may be triggered. We outline below the key implications, particularly the new notification obligations for changes of control or for permit transfers.
7 January 2026

Decoding Europe's digital regulatory framework: our updated guide for 2026

Digital regulation and enforcement in the EU are intensifying but the rulebook remains in flux. Our updated digital guide will help in-house teams stay agile as they tackle evolving frameworks with business decisions potentially triggering obligations across digital, privacy, cybersecurity, competition and consumer protection domains.