Regional news: Netherlands

KLM asks Dutch government to green-light restructuring plan

With help from Allen & Overy, the Dutch arm of airline group Air France-KLM has submitted a restructuring plan to the Netherlands Ministry of Finance in the hope of securing a rescue package worth €3.4 billion.

05 October 2020

Selecta to poll creditors and file Chapter 15 for English scheme

Switzerland-headquartered vending machine operator Selecta will hold a creditor vote on its English scheme of arrangement and seek recognition of it in the US, after winning permission to do so from a London court today.

02 October 2020

US and Dutch courts approve HEMA’s English scheme restructuring

Low price homeware retailer HEMA’s restructuring through English, US and Dutch courts is a “perfect example” of how European brands with complex capital structures can restructure with minimal fallout, lawyers working on the case have told GRR – but it may be the last scheme of its kind.

17 September 2020

Hema scheme approved in England

The High Court in London has sanctioned Dutch retailer Hema’s English scheme of arrangement, allowing it to restructure €600 million of senior secured notes as part of a comprehensive, multi-jurisdictional financial restructuring.

24 August 2020

Hema seeks US recognition after creditors back UK scheme

Dutch retailer Hema has asked a New York court to recognise its UK scheme of arrangement, hours after a majority of scheme creditors voted to approve it.

21 August 2020

“Good forum shopping”: English court sanctions Flint Group schemes

An English court has sanctioned schemes for seven international subsidiaries of Luxembourg-headquartered Flint Group, finding a change of governing law in their debt agreements gave the companies sufficient connection to England.

30 July 2020

Brown Rudnick attorney negligence claim to go ahead in New York

The litigation trustee for bankrupt Dutch petrochemicals group LyondellBasell may pursue negligence claims against Brown Rudnick for the loss of a preference claim, a New York court has ruled.

30 July 2020

English court grants Dutch Hema single class scheme meeting

An English court has let Dutch retailer Hema hold a creditors’ vote on the English scheme that is key to its planned multi-jurisdictional restructuring in the UK, the US and the Netherlands.

29 July 2020

Dutch Hema plots €600 million debt for equity scheme in England

De Brauw Blackstone Westbroek and Slaughter and May are leading Dutch retailer Hema in a restructuring running through UK, US and Dutch courts, after the retailer converted its New York law-governed notes to English law via a trust deed to make use of a scheme.

20 July 2020

New scheme notice requirements should not be bypassed, English court affirms

An English court has published its reasons for convening scheme of arrangement meetings for Luxembourg-incorporated Flint Group, after applying new creditor notice requirements for the first time.

14 July 2020

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