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ARTICLE · 21 DECEMBER 2017

EuroResource—Deals And Debt - December 2017

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While proposing the plan, the debtor is entitled to certain protections against involuntary bankruptcy petitions and other adverse creditor actions, albeit for a period of four months maximum.

GlobalInsolvency/Bankruptcy/Re-Structuring
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The Netherlands—On 5 September 2017, the Ministry of Justice and Security of the Netherlands published its second draft of the Continuity of Enterprises Act II, which would enable debtors in the Netherlands to restructure their debts and avoid bankruptcy through the incorporation of a plan in an out-of-court process, while providing the ability to seek the court's intervention to impose the plan on dissenting creditors and shareholders. The draft bill is often colloquially referred to as the "Dutch Scheme", after its UK counterpart. While proposing the plan, the debtor is entitled to certain protections against involuntary bankruptcy petitions and other adverse creditor actions, albeit for a period of four months maximum. The Dutch Scheme is a highly flexible instrument that can be tailored to the needs of the debtor, as the formal requirements of the proceeding are limited. The Dutch Scheme also includes opportunities for creditors: While they

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