Erik Schuurs

Counsel

Amsterdam + 31.20.305.4276

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Erik Schuurs is gespecialiseerd in insolventierecht, herstructureringen en grensoverschrijdende insolventies. Hij adviseert alle typen belanghebbenden in financiële moeilijkheden, waaronder investeerders, aandeelhouders, gesecureerde schuldeisers, leveranciers, debiteuren en bestuurders. Erik wordt regelmatig door de rechtbank Amsterdam aangesteld als bewindvoerder of curator in gerechtelijke insolventieprocedures.

Erik trad op voor Diebold Nixdorf bij de succesvolle herstructurering in 71 dagen van meer dan 2,7 miljard dollar aan gefinancierde schulden in de allereerste dubbele procedure onder de Nederlandse WHOA en de Amerikaanse faillissementswet (Chapter 11).

Hij heeft ruime ervaring met de gerechtelijke en buitengerechtelijke herstructurering van multinationale concerns. Erik is mede-curator van Scotch & Soda, het in Nederland gevestigde modebedrijf met meer dan 200 winkels en distributie in meer dan 70 landen (omzet € 350 miljoen), en hij leidt de verkoop van de meeste activa in zeven landen en de buitengerechtelijke afwikkeling in acht landen. Daarnaast is Erik curator in de faillissementen van Esprit en Riviera Maison.

Erik adviseerde ook Intertoys, de winkelketen met 350 speelgoedwinkels in Nederland, Duitsland en België (omzet € 500 miljoen), bij de verkoop van de meeste activa en de afwikkeling van de resterende activiteiten, het collectief ontslag van de werknemers en de overgang van de activiteiten naar de koper.

Experience

  • Erik Schuurs appointed as administrator of Esprit Europe B.V.Erik Schuurs was appointed as administrator of Esprit Europe B.V. Esprit is an international fashion retail company with stores across Europe, North America, and Asia.
  • 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.
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    March 2023 Reprint

    Inaugural Survey of Chapter 15 of the Bankruptcy Code (The Business Lawyer)

    March 2021 Newsletters

    Business Restructuring Review | March–April 2021

    March 2021 Newsletters

    Legislative Update: The Dutch Scheme Has Arrived

    January 2021 White Paper

    The Dutch Scheme Has Arrived

    December 2020 Newsletters

    Business Restructuring Review | November–December 2020

    December 2020 Newsletters

    Legislative Update: New Dutch Restructuring Law Enacted

    February 2020 White Paper

    The Dutch Scheme: A Valuable Addition to Cross-Border Restructuring Toolbox

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