It took the legislator more than six years, but as of 1 January 2021 the “Act on the confirmation of private restructuring plans” (Wet Homologatie Onderhands Akkoord (WHOA)) will finally come into effect. In anticipation of this, companies with financial difficulties can start preparations, according to a letter of the Minister of Economic Affairs and Climate to the Lower House of 27 October 2020. The regulation will be published in the Official Gazette early November 2020.
