Restructuring & Insolvency

Is your company in financial trouble? Are you considering filing for bankruptcy? Or is your bank threatening to terminate your financing? In that case, expert advice from one or more of Blenheim’s insolvency lawyers is essential. It is often important to act decisively and quickly. Timely intervention often increases the chances of survival of your company. An impending bankruptcy also offers opportunities. For example a restructuring, followed by a restart. Blenheim’s insolvency lawyers have many years of national and international experience at various law firms at their disposal and can provide you with sound advice.

Preventing bankruptcy in the Netherlands

Restructuring may be necessary to avoid bankruptcy when a company is in a financially difficult situation, underperforming or suddenly facing significant losses or declining turnover. A proper analysis of what measures should be taken to strengthen the company and achieve a successful change of direction is necessary. With the aim of preventing red numbers or even bankruptcy. Blenheim’s aim is to guide you in increasing your turnover, optimising your cash flow and saving on operational costs where possible.

New Dutch scheme: WHOA

The Act on Court confirmation of extrajudicial restructuring plans bill (WHOA) entered into force more than two years ago now. At the time, this amended the Bankruptcy Act, which aimed to make it easier for companies in a state of imminent insolvency to restructure.

The biggest difference that the WHOA brings with it compared to the original possibilities in the Bankruptcy Act to offer a composition is that as soon as 2/3rd of the creditors vote in favour (in cash), the rest can be included in the composition.

Read more about the WHOA and the possibility of restructuring instead of bankruptcy here.