For entrepreneurs and directors who want to save, restructure, or wind down their business in a controlled manner during severe economic downturns.
Restructuring and insolvency revolves around companies under financial pressure — from a WHOA agreement and reorganization to suspension of payments, bankruptcy, and restart. Our lawyers and in-house counsel assist both international corporations and the entrepreneur around the corner: concretely, practically, and with full legal interpretation.
Lawyers and in-house counsel for restructuring and insolvency in one team.Practical specialist legal assistance for entrepreneurs.
Active for SMEs and corporates — from large corporations to the baker on the corner.Practical specialist legal assistance for entrepreneurs.
Core themes: WHOA, restart, suspension of payments, bankruptcy, and directors' liability.Practical specialist legal assistance for entrepreneurs.
Specialist advice on restructuring and insolvency from €155 per hour excl. VAT.Clarity on the process, approach, and next steps.
We worked for, among others:
We worked for, among others:
Expertise in Restructuring and Insolvency
Restructuring and insolvency revolves around companies under financial pressure — from a WHOA agreement and reorganization to suspension of payments, bankruptcy, and restart. Our lawyers and in-house counsel assist both international corporations and the entrepreneur around the corner: concretely, practically, and with full legal interpretation.
Bankruptcy application
Do you wish to file for your debtor's bankruptcy, or are you considering filing for bankruptcy yourself? We guide you through the entire petition procedure at the court, from international corporations to the baker on the corner.
Divesting a business unit is often the key to saving the rest of the company. Our lawyers and in-house counsel guide the transaction and manage insolvency risks – from international corporations to the baker on the corner.
Have you been held liable by the bankruptcy trustee or the Tax Authorities, or do you wish to limit your director risks? Our lawyers and in-house counsel assist directors – from international corporations to the baker on the corner.
A restart allows the healthy parts of your business to live on, while the debts remain in the bankruptcy estate. We guide the asset transaction with the bankruptcy trustee from start to finish, for both group companies and SMEs.
From international corporation to the baker on the corner: our lawyers and in-house counsel guide you through a careful reorganization, from reorganization plan and collective dismissal to the UWV procedure and the connection with the WHOA.
From impending bankruptcy to a restructured debt burden. Our lawyers and in-house counsel guide both enterprises seeking to propose a creditors' agreement and creditors to whom an agreement is presented — from international corporations to the baker on the corner.
The restructuring and insolvency team specializes in advising organizations across various sectors. We believe in a decisive approach and have guided several successful restructuring processes in the past. We have extensive experience with a wide variety of insolvency and restructuring issues.
Is your company experiencing temporary payment difficulties? A suspension of payments provides you with a breathing space to restructure. Our lawyers and in-house counsel guide you through the application and the process, from international corporations to the baker on the corner.
Restructuring and insolvency revolve around companies under financial pressure. Sometimes the company is still viable and only the debt burden needs to be reduced (restructuring); sometimes a controlled winding-down or a restart is the best route. The Bankruptcy Act and the Civil Code offer a range of instruments for this, from the WHOA to suspension of payments, bankruptcy, and a restart. The key is to choose in time and follow the right path.
Our lawyers and in-house counsel assist both international corporations and the entrepreneur around the corner — from a complex WHOA procedure to the baker on the corner looking to arrange a payment plan with his creditors. Practical, with the full articles of the law and without unnecessary jargon.
The WHOA: an agreement outside bankruptcy
Since January 1, 2021, the Bankruptcy Act includes the Private Agreement Homologation Act (WHOA, Articles 369 to 387 of the Bankruptcy Act). This allows a company to offer its creditors and shareholders a compulsory agreement — even dissenting voters are bound once the court homologates the agreement (Article 384 of the Bankruptcy Act). Creditors are divided into classes, and if at least one class agrees, a so-called cross-class cram-down may follow. The WHOA is open to any company, from sole proprietorships and SMEs to large corporations.
During a WHOA process, the court may declare a cooling-off period (Article 376 of the Dutch Bankruptcy Act), during which creditors cannot exercise their recovery rights, and, if necessary, appoint a restructuring expert (Article 371 of the Dutch Bankruptcy Act) or observer. We assist you with drafting the agreement, the classification of creditors, and the court proceedings.
Suspension of payments and bankruptcy
If restructuring fails, a suspension of payments (Article 214 of the Dutch Bankruptcy Act) can provide temporary relief: an administrator is appointed and the company is granted a stay to put its affairs in order. If there is no longer a future, bankruptcy follows, which can be applied for by the entrepreneur himself or by a creditor (Article 1 of the Dutch Bankruptcy Act). The court then appoints a trustee who liquidates the assets. We assist both the company and individual creditors in these proceedings — and safeguard your position when a trustee appears.
Restart after bankruptcy
Bankruptcy does not always mean the end. Through a restart, the viable core of the business can be continued, often by acquiring assets from the bankruptcy estate. Pay attention to the employees: in a normal transfer of undertaking, they transfer by operation of law (Article 7:662 et seq. of the Dutch Civil Code), but in a restart following bankruptcy, the exception of Article 7:666 of the Dutch Civil Code applies, meaning the acquirer is not automatically bound by all employment terms and conditions. We guide both buyers and sellers through a careful and legally sound restart.
Directors' liability in stormy weather
Directors' liability looms large in the course of bankruptcy proceedings. In the event of manifestly improper management, the bankruptcy trustee can hold the director liable for the deficit in the bankruptcy estate (Articles 2:138 and 2:248 of the Dutch Civil Code); internally, Article 2:9 of the Dutch Civil Code applies to the company, and tort law applies to individual creditors (Article 6:162 of the Dutch Civil Code). Furthermore, a breach of the accounting or publication obligation creates a presumption of proof. We assist directors who are held liable, as well as bankruptcy trustees or creditors who wish to hold a director liable.
Paulian acts and securities
Legal acts immediately preceding bankruptcy are under close scrutiny. If the company has prejudiced creditors, the trustee can annul that act through the bankruptcy clawback provisions (Articles 42 and 47 of the Bankruptcy Act); outside of bankruptcy, Article 3:45 of the Dutch Civil Code offers a comparable route. At the same time, securities such as pledges and mortgages determine who is paid first. We assess whether a transaction holds up, assist in correctly establishing securities, and incorporate the deed of assignment into the transfer of.
Restructuring and insolvency for SMEs and corporations
The top end of the market often focuses solely on large corporations and remains vague. We do not: our mixed team of lawyers and in-house counsel assists both international corporations and the baker around the corner. Accessible and concrete, with full legal provisions and a clear path to your goal — whether that is a WHOA agreement or a simple arrangement with your suppliers.
Is it purely a matter of bankruptcy or receivership?
If your question concerns the settlement of a bankruptcy, suspension of payments, or the role of the trustee, please visit our insolvency law. This page focuses on preventing these issues: WHOA, restructuring, reorganization, and restart. If a transaction or acquisition involves the company, our corporate, mergers and acquisitions.
What we help with
From drafting a WHOA agreement to guiding a restart — our lawyers and legal experts support you in every aspect of restructuring and insolvency.
WHOA processes: drafting the agreement, classification and homologation (Articles 369-387 of the Bankruptcy Act)
Private arrangements and debt restructuring with your creditors
Applying for and managing a suspension of payments (Article 214 of the Dutch Bankruptcy Act)
Bankruptcy application, defense against it, and assistance before the trustee
Restart after bankruptcy: asset transaction and consequences for personnel (Article 7:666 of the Dutch Civil Code)
Directors' liability in bankruptcy (Articles 2:138 and 2:248 of the Dutch Civil Code)
Establishing and enforcing securities: pledge, mortgage, and retention of title
Assessing and challenging fraudulent transactions (Articles 42 and 47 of the Bankruptcy Act)
When do you engage this team?
When facing financial difficulties, every week counts. The sooner you involve us, the more avenues remain open. If you recognize any of these situations, seeking advice is advisable.
Your company will eventually no longer be able to meet its debts
In restructuring and insolvency, your starting position determines the outcome. Before we offer a settlement or initiate proceedings, we assess viability, the debt position, collateral, and liability risks. This allows us to choose the route—WHOA, private settlement, suspension of payments, bankruptcy, or restart—that best serves your interests, rather than the first step that comes to mind.
Our approach
From stormy weather to solution in four steps.
1
Intake
We discuss your company, the financial situation, and your goal, and review the figures and current obligations.
2
Analysis
We assess viability, debt position, collateral, and liability risks against the law.
3
Strategy
We choose the route — WHOA, settlement, suspension of payments, bankruptcy, or restart — and the involvement of a lawyer or legal expert.
4
Execution
We execute: from drafting an agreement to litigating in court or guiding the restart.
Mr. Jaime BoogaersCorporate Law · Lawyer
In a legal dispute, it is not just about being right. It is also about evidence, timing, negotiating position, and the business consequences of every step.
Specialists in Restructuring and Insolvency
Our specialists combine legal analysis with experience in cases for entrepreneurs, directors, and organizations.
Our team of corporate counsel and lawyers within the insolvency and restructuring team are specialists. We assist organizations, shareholders, directors, and creditors with legal issues within an insolvency or restructuring process. We have extensive experience at the negotiating table, are decisive, and can make sound assessments of opportunities and risks. We understand both the legal world and the business world, enabling us to effectively switch between them. Clear and understandable language is paramount in this regard.
Frequently asked questions about restructuring and insolvency
The questions that entrepreneurs in dire straits ask us most often.
What exactly is the WHOA?
Since 2021, the Private Agreement Homologation Act (Articles 369 to 387 of the Dutch Bankruptcy Act) has made it possible to offer creditors and shareholders a compulsory agreement outside of bankruptcy. If the court homologates the agreement (Article 384 of the Dutch Bankruptcy Act), dissenting creditors are also bound. In this way, a viable company can reduce its debt burden and avoid bankruptcy.
My company cannot pay its debts, what now?
That depends on viability. If there is still a future, a WHOA agreement or a private settlement with your creditors can offer a solution. If the situation offers no temporary breathing room, a suspension of payments (Article 214 of the Dutch Bankruptcy Act) provides relief. If there is no longer any prospect, a controlled bankruptcy with a possible restart is often wiser than waiting.
Am I personally liable as a director in the event of bankruptcy?
In principle not, but certainly in the case of manifestly improper management: then the trustee can hold you liable for the deficit in the bankruptcy estate (Articles 2:138 and 2:248 of the Dutch Civil Code). Internally, Article 2:9 of the Dutch Civil Code applies, and towards creditors, the tort law (Article 6:162 of the Dutch Civil Code). Violation of the accounting or publication obligation reverses the burden of proof. Timely advice limits your risk.
What happens to my staff during a restart?
In the case of an ordinary transfer of undertaking, the staff transfers by operation of law while retaining their terms and conditions of employment (Article 7:662 et seq. of the Dutch Civil Code). However, in the case of a restart following bankruptcy, the exception of Article 7:666 of the Dutch Civil Code applies, meaning the acquiring party is not automatically bound by all existing terms and conditions of employment. The precise consequences require a tailored approach.
Can a bankruptcy trustee reverse transactions made just before the bankruptcy?
Yes. If the company has prejudiced creditors through a legal transaction, the trustee can annul it via the bankruptcy clawback action (Articles 42 and 47 of the Bankruptcy Act). Outside of bankruptcy, Article 3:45 of the Dutch Civil Code offers a similar action. Therefore, have transactions in financial distress legally reviewed beforehand.
Do I need a lawyer or a legal expert?
That depends on your situation. For advice, drafting an agreement, contracts, and negotiations with creditors, an in-house counsel is often sufficient. For legal proceedings—such as WHOA homologation, suspension of payments, or bankruptcy before the court—a lawyer is mandatory. We have both in-house and determine together with you what suits best.
Discuss your situation with a restructuring and insolvency specialist.Our restructuring and insolvency lawyers and legal experts help both large companies and small business owners move forward. Schedule a meeting and find out within a single session what options are available to you.
