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Expedited implementation of Dutch Scheme legislation

3 April 2020

The Dutch government has qualified the bill for the introduction of a pre-insolvency composition (the so-called: “Dutch Scheme”) as emergency legislation with a view to entry into force on 1 July 2020.

The new legislation introduces the possibility for a creditors to offer a composition plan outside formal insolvency proceedings. Such compulsory composition plan can extend to all creditors (including preferred and secured creditors) and shareholders. Please click here for a presentation that sets out how the Dutch Scheme will work.