After more than six years of development, the legislative process concerning new Dutch restructuring legislation (Wet Homologatie Onderhands Akkoord, or "WHOA") that introduces a Dutch debtor-in-possession proceeding ("Dutch...more
On October 6, 2020, the Dutch Senate approved long-anticipated restructuring legislation allowing for court confirmation of extrajudicial restructuring plans (Wet Homologatie Onderhands Akkoord, or "WHOA")....more
A company or group's financial distress causes significant turmoil for its owners, directors, managers, employees and often its suppliers and other creditors. For directors in particular, there are significant...more
12/3/2020
/ Commercial Bankruptcy ,
Coronavirus/COVID-19 ,
Corporate Governance ,
Corporate Restructuring ,
Debt Restructuring ,
Directors ,
Duties & Responsibilities ,
EU ,
Financial Distress ,
Insolvency ,
Personal Liability
On 26 June 2019, the new Harmonisation Directive was formally published in the Official Journal of the European Union. As a result, by 17 July 2021, each Member State must include in its respective insolvency and...more