restructuring and special situations€¦ · and operations, therefore needing help to adapt to the...
TRANSCRIPT
Restructuring and Special Situations: The Netherlands
May 2020
1
Restructuring and Special Situations The impact of the COVID-19 pandemic confirms that the financial world is so interlocked that the financial shockwaves in one country can cause significant ripple effects in other countries too. After the first crisis response the current question is how to adapt your firm to the post-covid-19 crisis scenario.
The New Normal entails new market conditions and we recognise that these unique economic circumstances often mean our clients are experiencing much less control over their business strategy and operations, therefore needing help to adapt to the new market conditions.
Our Amsterdam based team of restructuring and special situations lawyers work as part of our wider international team across our network of offices in Europe, Middle East and Asia to support our clients on business critical issues and advise on:
multi-lender rescues and reconstructions outside formal insolvency proceedings for financial institutions, and for debtors we advise on all aspects of restructuring, including operational turnarounds
corporate governance issues, shareholders liability, and (supervisory) directors’ liability in distressed situations, including on the governmental measures addressing the COVID 19-crisis
M&A in distressed situations, including joint ventures
insolvency litigation, including protection of assets, set off, insolvency applications and claw-back actions by bankruptcy trustees
security enforcement for financial institutions, we review the security position of lenders and security trustees and focus on the enforceability of security rights and we draft the documentation for the enforcement of the security and co-ordinate the service of demands
all aspects of distressed debt analysis and trading and loan portfolio sales, including distressed financings and restructurings and secondary trading loans, bonds, trade debt, derivatives and insolvency claims. We act for the buy-side as well as the sell-side and for brokers/dealers
tax implications of refinancings, restructurings, work-outs and distressed debt transactions, including tax relief measures and disputes with the tax authorities, as well as on transfer pricing aspects of intra-group reorganisations
employment, on employer and employee rights in times of financial distress, we assist with workforce reviews and advise on governmental facilities available to employers to mitigate financial distress relating to wages and pensions
commercial contracts, including negotiation of payment holidays, advice on suspension and termination rights and liability
Simmons Wavelength is the world’s first regulated firm of legal engineers, with a unique multi-disciplinary team that includes data scientists, legal designers, technology experts, legal professionals and lawyers. We use a combination of technology, data, legal analysis and design thinking to deliver COVID-19 related data driven special solutions for a range of clients, including legal teams, global businesses and governmental bodies
If you would like to find out more, here are our key contacts:
Restructuring and Special Situations
Marieke DriessenPartnerFinancial MarketsT +3120 722 2308E [email protected]
Jeroen BosPartnerFinancial MarketsT +3120 722 2343E [email protected]
Jaap van der SteenhovenAssociateFinancial MarketsT +3120 722 2312E [email protected]
Peter FlipsenSenior ConsultantFinancial MarketsT +3120 722 2540E [email protected]
Rob HendriksPartnerCorporate & CommercialT +3120 722 2344E [email protected]
Joris OsterPartnerEmploymentT +3120 722 2342E [email protected]
Jurgen van BeestTax AdviserFinancial MarketsT +3120 722 2536E [email protected]
Elise BoehmerAssociateCorporate & CommercialT +3120 722 2387E [email protected]
Bob van ElsAssociateCorporate & CommercialT +3120 722 2398E [email protected]
Robert VerburgCounselDispute ResolutionT +3120 722 2316E [email protected]
Leo VerhoeffPartnerCorporate & CommercialT +3120 722 2361E [email protected]
Members of the Simmons & Simmons Amsterdam team have a strong track record working with clients to find solutions to special situations, including advising:
one of the lenders on their position in a EUR 700,000,000 credit facility in one of the largest bankruptcies in the Netherlands of an international industrial conglomerate
an international retail supplier on its position in the restructuring and bankruptcy of one of its client corporate groups
an international TMT group on the restructuring of their workforce in view of financial distress
a large Dutch recycling company in relation to bankruptcy proceedings commenced by an alleged creditor, including advising on the companies’ strategic position in several related corporate and commercial disputes following a restructuring
a hedge fund on the potential purchase from FGH Bank, Rabobank’s real estate finance subsidiary, of its EUR 1,400,000,000 real estate loan portfolio. The sale took place by way of a bidding process
a Dutch bank on a refinancing of a distressed target including under a senior revolving loan facility agreement and a mezzanine term loan facility refinancing of a Dutch corporate group
For additional information on our firm, please visit our website at simmons-simmons.com.© Simmons & Simmons LLP and its licensors. All rights asserted and reserved. This document is for general guidance only. It does not contain definitive advice.
Simmons & Simmons LLP is a limited liability partnership registered in England & Wales with number OC352713 and with its registered office at CityPoint, OneRopemaker Street, London EC2Y 9SS, United Kingdom. It is authorised and regulated by the Solicitors Regulation Authority and its SRA ID number is 533587. Theword “partner” refers to a member of Simmons & Simmons LLP or one of its affiliates, or an employee or consultant with equivalent standing and qualifications. A listof members and other partners together with their professional qualifications is available for inspection at the above address.