Change of governing law, followed by Dutch scheme proceedings in major bond restructuring
18 June 2024
In a landmark decision, the District Court of Amsterdam has for the first time sanctioned a Dutch Restructuring Plan (WHOA) of bonds that were originally governed by English law. The plan also saw the first judicial consideration in the Netherlands of restructuring techniques pioneered on UK schemes, and demonstrates the pragmatism and rigour of the Dutch WHOA process. Clifford Chance advised the plan company.
Clifford Chance
