ErikSchuurs

Counsel

アムステルダム + 31.20.305.4276

Erik Schuurs' practice focuses on insolvency law, debt restructuring, and cross-border insolvency. He has advised all stakeholders in distressed situations, including distressed asset investors, secured and unsecured creditors, debtors, and directors. Erik is regularly appointed by the Amsterdam District Court as administrator in insolvency proceedings.

Erik acted for Diebold Nixdorf in the successful restructuring in 71 days of more than US$2.7 billion in funded debt in the first ever dual proceeding under the Dutch restructuring law and the United States Bankruptcy Code.

He has substantial experience with in-court and out-of-court wind-down of multinational groups of companies. Erik is co-trustee of Scotch & Soda, the Netherlands-based fashion retail company with more than 200 stores and distribution in more than 70 countries (€350 million turnover), and he is leading the distressed assets sale of most of the business in seven countries and the out-of-court wind-down in eight countries.

Erik also advised on Intertoys, the retail chain with 350 toy stores in the Netherlands, Germany, and Belgium (€500 million turnover) involving a distressed asset sale of most of the business and wind-down of the remaining business, collective dismissal, and transition of the business to the purchaser.

担当案件

  • Diebold Nixdorf obtains $1.25 billion senior secured exit credit facilityJones Day represented Diebold Nixdorf, Incorporated, a multinational financial and retail technology company that specializes in the sale, manufacture, installation, and service of self-service transaction systems (such as ATMs and currency processing systems), point-of-sale terminals, physical security products, and software and related services for global financial, retail, and commercial markets, in connection with a new $1.25 billion senior secured term loan facility as part of it’s emergence from chapter 11 bankruptcy and other domestic and foreign court-supervised restructuring proceedings.
  • Diebold Nixdorf successfully restructures over $2.7 billion in funded debt and completes the first-ever dual proceeding under the U.S. bankruptcy code and Dutch restructuring law in 71 daysIn the first-ever cross border restructuring involving dual main proceedings under chapter 11 of the U.S. Bankruptcy Code and a scheme of arrangement (the "Dutch Scheme") under the Dutch Act on Confirmation of Extrajudicial Plans (Wet Homologatie Onderhands Akkoord ("WHOA")), and the first-ever chapter 15 recognition of Dutch Scheme proceedings and a sanctioned WHOA reorganization plan (the "WHOA Plan"), Jones Day represented Diebold Nixdorf, Incorporated ("Diebold") and certain of its U.S. and Canadian subsidiaries (the "Debtors") in connection with (i) the prepackaged chapter 11 cases of In re Diebold Holding Company, LLC, et al., (Case No. 23-90602-DRJ) commenced on June 1, 2023, in the United States Bankruptcy Court for the Southern District of Texas (the "Bankruptcy Court"); (ii) the Dutch Scheme, commenced on June 1, 2023 by Diebold Nixdorf Dutch Holding B.V. (the "Dutch Issuer") in the District Court of Amsterdam (the "Dutch Court"), and (iii) the chapter 15 proceedings before the Bankruptcy Court commenced by the foreign representative of the Dutch Issuer, wherein the Bankruptcy Court recognized the Dutch Scheme proceeding as a foreign main proceeding and recognized and extended comity to the WHOA Plan that was sanctioned by the Dutch Court.
  • Diebold Nixdorf obtains $1.25 billion senior secured superpriority DIP credit facilityJones Day is representing Diebold Nixdorf, Incorporated (the “Company”), a multinational financial and retail technology company that specializes in the sale, manufacture, installation, and service of self-service transaction systems (such as ATMs and currency processing systems), point-of-sale terminals, physical security products, and software and related services for global financial, retail, and commercial markets, and certain of its domestic and foreign subsidiaries (collectively, the “Debtors”) in (i) a pre-packaged chapter 11 proceeding in front of the U.S. Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”), (ii) a scheme of arrangement by Diebold Nixdorf Dutch Holding B.V. (the “Dutch Issuer”) and the related voluntary proceeding in front of the District Court of Amsterdam under the Dutch Act on Confirmation of Extrajudicial Plans (Wet Homologatie Onderhands Akkoord), and (iii) an anticipated proceeding commenced by the Dutch Issuer under chapter 15 in the Bankruptcy Court, seeking recognition of such scheme of arrangement.
  • Scotch & Soda sold to Bluestar AllianceJones Day acted as administrator to Amsterdam-based Dutch fashion brand Scotch & Soda in its sale to Bluestar Alliance, a New York-based brand management company.
  • Aurelius sells remaining Office Depot Europe business to strategic buyer RAJA GroupJones Day advised AURELIUS Equity Opportunities in the sale of Office Depot Europe, which includes the remaining Viking and Office Depot Europe activities to strategic buyer RAJA Group.
  • Intertoys files for bankruptcyJones Day assisted the trustee of Intertoys Holding B.V., the market leader in retail toy shops, in the company’s bankruptcy.
  • Oi Brasil obtains approval of recovery planJones Day represented the trustee of Oi Brasil Holdings Coöperatief, a subsidiary of the Brazilian telecom giant Oi S.a., who filed for bankruptcy protection in 2016.