Court Approval of a Private Composition

In the field of restructuring, Heron Legal offers support in relation to the Court Approval of a Private Composition (WHOA), which came into force on 1 January 2021.

Under this Act, it it is possible to restructure companies that have financial difficulties by way of a private (forced) agreement with its creditors and / or shareholders. In doing so, an (imminent) insolvency can be averted. Under certain conditions, the WHOA can also be used when liquidating a company with no prospects of recovery, while that company does not have to go bankrupt. A special feature of the WHOA is that any agreement may also be imposed on creditors who vote against it. Such an arrangement previously did not exist in Dutch law. Let Heron Legal's specialists advise you on this special arrangement, or contact us if you have any questions about the WHOA.