Eye, Amsterdam

Dutch scheme

On 26 May 2020 the Dutch Parliament adopted the Bill on the Confirmation of Private Plans, also known by its Dutch acronym “WHOA”, seeking to introduce a pre-insolvency procedure in the Netherlands, which one might refer to as the “Dutch scheme”. It is expected that the Bill will pass through the Senate and enter into force on short notice. A bullet point summary together with a full text English translation of the bill and accompanying legislative notes (and earlier drafts) can be found below.