Windt Le Grand Leeuwenburgh Advocaten

Restructuring & insolvency

Every day, Windt Le Grand Leeuwenburgh helps companies and their stakeholders who are undergoing difficulties.  Our lawyers have both extensive experience and expertise in the fields of Dutch and international bankruptcy law and corporate law. We assist companies and the various stakeholders involved, such as directors/supervisors, suppliers, banks and insurers who find themselves facing financial issues. Our lawyers are regularly appointed by the courts as bankruptcy trustees and administrators in suspension of payment cases. We also have extensive experience with the supervision of pre-packs and we are available to be appointed as restructuring expert (herstructureringsdeskundige) or observer (observator) under the Act on Confirmation of Extrajudicial Restructuring Plans (Wet Homologatie Onderhands Akkoord - WHOA). Click here for more information on the The Dutch Scheme.

"Highly professional, in-depth knowledge, excellent communication and swift responses" - Legal 500, 2021

"I find the team thorough and very professional. They know exactly what they are talking about and go to the extreme for their customers."- Legal 500, 2020.

"Great guys in the Rotterdam region, seasoned practitioners." - Legal 500, 2020.

Recent matters

Marcel Windt has been appointed restructuring expert (herstructureringsdeskundige) by a Dutch court in undisclosed Dutch Scheme (WHOA) proceedings involving of a group of companies aiming to restructure over € 30 million of debt.

Richard le Grand has been appointed as monitor of Vendo Nederland B.V. by the Rotterdam court and has subsequently been appointed as restructuring expert. As monitor he has supervised the public Dutch scheme proceedings and as restructuring expert he is authorised to offer a scheme of composition (restructuring plan) to creditors and to request that the court sanctions the scheme.

We have acted for a PE portfolio company on the restructuring of a lease resulting in a reoccurring sub-lease vacancy risk reduction and reoccurring cost reduction against financial support of the sponsor and bank. The Dutch Scheme (WHOA) was leveraged to reach a consensual deal.

We have acted for Tennor Holding B.V. in the appeal proceedings against its bankruptcy. Tennor has paid all operational creditors and has agreed ‘standstill’ arrangements with all its financial creditors. The Court of Appeal in Amsterdam accepted Tennor Holding B.V.’s argument that herewith the ‘insolvency situation’ was resolved and the bankruptcy was annulled on that basis.

Appointed as liquidator (vereffenaar) of IHC B.V., former owner of Royal IHC,  a world leading shipbuilder, Creating the maritime future - Royal IHC

Appointed chairman of SRF, a Dutch Foundation that will distribute the most part of the EUR 1.4 billion  Global Settlement as concluded between Steinhoff and a group of over 30.000 qualifying shareholders. See: Steinhoff Global Settlement (

We have advised Tennor Holding B.V., on its agreement with certain of its material creditors to restructure financial indebtedness of the Tennor Group and certain affiliated entities. The restructuring will include the issuance of EUR 1,450,000,000 First Super Senior Secured Notes by Tennor Holding B.V. and, subject to conditions, the transfer of certain existing equity securities of the Tennor Group which are currently held by creditors and the cancellation, subject to conditions, of existing bonds of the Tennor Group and certain of its affiliates which are currently held by creditors. For more information see:

Acting as bankruptcy trustee of Verolme Holding B.V. and its subsidiaries, the industrial heritage of the world leading shipbuilder as established by legendary enterpreneur Cornelis Verolme. For some publicity about the new start of the activities see: Verolme Moerdijk weer op de been na faillissement

Acting for a provider of horticulture technology on its financial restructuring, including an amendment of its Senior Facilities Agreement with one of the leading Dutch banks and the structuring of a Subordinated Loan.

Acting for the management participation vehicle in the restructuring of IHC Merwede Holding, one of the largest Dutch shipbuilders, whereby the shares in IHC were acquired by a consortium of strategic parties and investors, supported by the Dutch State. Our instruction commenced early 2019 when we advised the management participation vehicle on the EUR 1.6 billion refinancing of IHC Merwede Holding.

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