Since the previous financial crisis, so well before the
COVID-era, many European countries spent considerable time
sharpening their restructuring toolkits. We contributed with our
view on this topic in the publication Recent Developments in the
International Restructering Market from a Dutch Law Perspective
from American Bankruptcy Institute Journal.
The Netherlands have been very much at the front of the queue,
with the much-talked-about "Dutch scheme" finally
entering into force on 1 January 2021. The timing might not be
entirely coincidental with the U.K. "Brexit" from the
European Union (EU). Many European countries hope to retain a
bigger slice of the restructuring pie, whereby European companies
have in the past decade or so frequently benefited from UK schemes
of arrangement and to a lesser extent US Chapter 11. There is no
doubt that the Dutch scheme looks attractive on paper, offering a
state of the art restructuring toolkit. The question is of course
to
