Insights

The_Dutch_Scheme_SOCIAL

The Dutch Scheme Has Arrived

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 (a "Dutch Scheme") combining features of chapter 11 of the U.S. Bankruptcy Code and the English Scheme of Arrangement was finalized at the end of 2020. The WHOA entered into force January 1, 2021 and is thus available to companies in distress from now onwards.
 
Since our previous White Paper of February 2020 on the Dutch Scheme, the WHOA has been amended in several relevant aspects. Here, we briefly discuss the most notable of these amendments and include a restated version of the original White Paper on the Dutch Scheme.
 

Jones Day publications should not be construed as legal advice on any specific facts or circumstances. The contents are intended for general information purposes only and may not be quoted or referred to in any other publication or proceeding without the prior written consent of the Firm, to be given or withheld at our discretion. To request reprint permission for any of our publications, please use our “Contact Us” form, which can be found on our website at www.jonesday.com. The mailing of this publication is not intended to create, and receipt of it does not constitute, an attorney-client relationship. The views set forth herein are the personal views of the authors and do not necessarily reflect those of the Firm.

 
We use cookies to deliver our online services. Details of the cookies and other tracking technologies we use and instructions on how to disable them are set out in our Cookies Policy. By using this website you consent to our use of cookies.