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Parliamentary adoption of the act on confirmation of private restructuring plans

08/06/2020

On 26 May 2020, the Act on the confirmation of private restructuring plans (Wet homologatie onderhands akkoord or WHOA) was adopted by the Dutch parliamentary House of Representatives (Tweede Kamer). The Dutch Senate (Eerste Kamer) will now have the final vote. Parliamentary consultations in the Dutch Senate will take place on 9 June 2020. Consequentially to the COVID-19 crisis, the Dutch government had indicated the WHOA as one of the emergency bills because the restructuring tool introduced by it could positively help enterprises in financial distress to avoid bankruptcy. It is expected that the WHOA will enter into force between 1 July 2020 and 1 January 2021.

Publication
Parliamentary adoption of the act on confirmation of private restructuring plans
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Authors

Marcel-Groenewegen-17-CMS-NL
Marcel Groenewegen
Partner
Amsterdam
Picture of Marlous de Groot
Marlous de Groot
Counsel
Amsterdam
Etienne Courbois
Counsel
Amsterdam
Wilmy-Westerhof-16-CMS-NL
Wilmy Westerhof
Advocaat
Amsterdam
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