In Nederland is het, vergeleken met omringende landen, vrij eenvoudig om beslag te leggen. De Wet herziening beslag- en executierecht (de ‘Wet’) beoogt het beslag- en executierecht voor schuldeisers eenvoudiger te maken door de mogelijkheden tot digitaal beslag leggen te verruimen. Ook wordt het beslag- en executierecht efficiënter met als gevolg dat schuldeisers minder kosten hoeven te maken om vorderingen te incasseren. Enig tegenwicht biedt de Wet, uitgebreider dan voorheen, door waarborging van het bestaansminimum van natuurlijke personen met schulden.

The Netherlands is planning to adopt new restructuring legislation, allowing for court confirmation of extrajudicial restructuring plans (Wet Homologatie Onderhands Akkoord, or WHOA). The bill combines features of the U.S. chapter 11 procedure and the English Scheme of Arrangement. With its broad range of jurisdiction and flexibility, the "Dutch Scheme" will prove to be an effective addition to the restructuring toolbox for both Dutch and non-Dutch entities, for groups of companies, and with the possibility of automatic recognition throughout the European Union.

For the benefit of our clients and friends investing in European distressed opportunities, our European Network is sharing some current developments.

Recent Developments

The case deals with the pre-pack of Estro, at the time the largest childcare provider in the Netherlands.

A pre-pack entails the court-appointed trustee confidentially preparing for the restart of trading by the insolvent company with the court's consent. If successful, the company is subsequently declared bankrupt and immediately restarted. Dutch law provides that transfer of undertaking rules do not apply in the case of bankruptcy.

Europe has struggled during the last several years to triage a long series of critical blows to the economies of the 28 countries that comprise the European Union, as well as the collective viability of eurozone economies. Here we provide a snapshot of some recent developments regarding insolvency, restructuring, and related issues in the EU.