Insolvency

Our R&I team deals with all matters related to companies experiencing financial distress. In short, this means that we are advising companies facing both "five to twelve" and "five past twelve" situations.

We assist companies with liquidity issues requiring financial restructuring to avoid bankruptcy. Additionally, we advise organisations confronted with a contractual party in financial distress to protect their interests as much as possible.

With the introduction of the WHOA on January 1, 2021, the Netherlands has gained an important restructuring tool. Our R&I team has been involved as both lawyers and restructuring experts in various successful WHOA procedures.

Appointments as (provisional) trustee/administrator

Our lawyers are regularly appointed by the court as trustee and administrator in complex bankruptcies and suspensions of payments. Examples of bankruptcies we have handled as trustees include: DSB Beheer B.V., shoe store chain Van Dalen, McGregor Fashion Group BV, Portugal Telecom International Finance BV, Swets Information Services BV, and Slotervaartziekenhuis B.V.

Due to this extensive practical experience and involvement in major national and international bankruptcies, CMS is frequently asked to guide a company through a bankruptcy application, to act against the trustee, or to assist a company in negotiations with the trustee regarding the acquisition of assets. We are also often instructed by directors of bankrupt companies when a dispute arises with the trustee or the trustee has personally held the directors liable.

Finally, we have also been regularly involved in the (silent) preparation of bankruptcy (pre-pack) as court-appointed provisional trustee or as advisor to the company.