Recente zaken

Ruben Leeuwenburgh and Mark Mouthaan have advised a retail company on its successful financial restructuring, resulting in a debt reduction from € 63 million to € 15 million.

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.

We have acted for a leisure and events company on its financial restructuring resulting in a distressed takeover of the company and a € 30 million to € 15 million debt reduction. The undisclosed Dutch Scheme (WHOA) proceedings were leveraged to reach a consensual deal.

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

Assisting Stibbe Management in certain aspects of the acquisition of Stork Plastic Machinery. See: Stork IMM Spuitgietmachines | Injection Moulding Machines

Distributed the final round of the EUR 300 million dividend to the KPNQwest N.V. creditors, constituting the termination of the bankruptcy of this AEX listed multinational, after nearly 20 years. See: KPNQwest - Wikipedia

Assisting the non-executive board of New Office Centre in the refinancing and sale of NOCB (ex Staples) to a fund of distressed and hands-on investor Standard Investments. See: Nieuwe eigenaar voor moederbedrijf Staples - RetailNews (retailtrends.nl)

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: https://tennor.com/tennor-group-agrees-to-restructuring-of-financial-indebtedness-with-material-creditors/

Acting for two shareholders in the restructuring and refinancing of Dümmen Orange, https://emea.dummenorange.com/site/nl. 

Acting for The Coatinc Company, Het oudste familiebedrijf van Duitsland | The Coatinc Company,  active in a.o. surface technologies of hot-dip galvanisation and coating processes in replacing management of certain of its opco’s, and assisting in implementing a strategic re-orientation of Dutch parts of the group.

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 Gemeente Hoeksche Waard in protecting its interests in the demise of medical equipment supplier HMC.

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.

Acting for Mercon, a service provider for tank and industrial support in maintenance and constructing projects, in optimizing its capital structure.