Financial restructurings are becoming increasingly common in the current financial climate, also in the Netherlands. Since the implementation of the Dutch scheme of arrangement on 1 January 2021, a relatively new tool to restructure debts of Dutch corporate entities in order to prevent their insolvency is available in the Netherlands. Under the Dutch scheme of arrangement, a creditors composition is binding on all creditors if a sufficient number of (classes of) creditors vote in favour of the scheme. In principle, the preferential order of priority for secured creditors, e.g.

The Act on confirmation of private restructuring plans (Wet homologatie onderhands akkoord) – which introduces a framework allowing debtors to restructure their debts outside formal insolvency proceedings (the “Dutch Scheme“) – was adopted by the Dutch Senate on 6 October 2020 and will enter into force on 1 January 2021.

In a recent judgment the Dutch Supreme Court ruled that the holder (an "Estate Claim Pledgee") of a right of pledge (an "Estate Claim Pledge") which secures one or more estate claims (each, a "Secured Estate Claim") is entitled to satisfy such claims out of the proceeds resulting from enforcement of such right of pledge ("Estate Claim Pledge Enforcement Proceeds") during the pledgor's bankruptcy provided that the claims have arisen from a legal relationship having come into existence prior to the bankruptcy.

Dutch Supreme Court 15 April 2016 (ECLI:NL:HR:2016:665)