Dutch Senate Approves New Corporate Debt Restructuring Law

Dutch senate approved a new corporate debt restructuring law on Tuesday, according to its website.

• New law applies to companies at risk of insolvency but with a viable business: website
  • It features elements of U.S. Chapter 11 procedures and English scheme of arrangement, aiming to boost the appeal of the Netherlands as jurisdiction to restructure corporate debt
  • NOTE: November 2019: Netherlands Bids to Topple London as Europe’s Restructuring Hub
• Companies “will have a materially improved ability to negotiate a debt reduction and/or new money injection without a formal insolvency process:” Ferdinand Hengst, restructuring partner at Dutch law firm De Brauw ...