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Practice area Restructuring and Insolvency
Udink & de Jong's sphere of activity in the field of Reorganisations and Insolvency can be summarised as follows:
Udink & de Jong's sphere of activity in the field of Reorganisations and Insolvency can be summarised as follows:
1. Preliminary phase for entrepreneurs
- restructuring debts (reaching out-of-court settlements with creditors);
- resolving conflicts with individual creditors;
- making arrangements with the Tax and Customs Administration and the Employee Insurance Schemes Implementing Body (repayment schemes);
- arranging refinancing and long-term restructuring (liaising with the bank)
2. Cooperation with the bank
- arranging additional and/or new security in the event of an impending funding shortfall;
- establishing and structuring agreements with a new lender;
- research into the legal validity of the security established;
- selling up both business and personal security
3. Businesses in trouble
- risk management
- group-level redetermination and the subdivision / isolation of risks;
- establishing or selling-up group-level securities;
- establishing a joint interest with the bank and other financial backers;
- making a comparative assessment of the benefits of an out-of-court settlement, a moratorium or bankruptcy;
- applying for a moratorium or bankruptcy
4. Undisclosed Administration
- at the request of the key stakeholders;
- quick scan (legal and business economic);
- formulating a plan of approach and creating financial capacity;
- rolling out the plan and providing guidance, where necessary in legal matters;
- exercising actual control, which rests with the administrator;
5. Moratoria
- studying viability in the short and medium term;
- running the company in collaboration with the Board of Directors;
- deciding whether a moratorium is the right solution and whether this holds any prospects for the creditors;
- where this is not the case, applying for withdrawal of the moratorium and filing for bankruptcy where necessary
6. Bankruptcy
- deciding whether the business should, temporarily, continue to exist;
- providing the company and the owner with management services;
- involving employees and creditors;
- establishing and settling mutual relationships between creditors
7. Policy Consultancy
- identifying and drawing attention to examples from everyday practice;
- drawing up recommendations;
- taking part in the public debate
Contact details: Marc Udink
