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
- It features elements of
- 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 ...