In the current economic climate, businesses can run into financial difficulties for a variety of reasons. Guldemond Advocaten has extensive experience in guiding companies through complex restructuring processes. With the introduction of the Wet Homologatie Onderhands Akkoord (WHOA) in early 2021, we have a powerful additional instrument at our disposal to restructure companies and prevent bankruptcy.

Preventive restructuring

The best time to restructure is before acute problems arise. We help companies identify financial challenges at an early stage and develop a sound restructuring plan. Our experience shows that early intervention significantly increases the chance of success of a restructuring. A successful restructuring starts with a thorough analysis of the financial position, business processes and market position of the company. We do not only look at the figures, but also at operational aspects, personnel issues and future prospects. This integral approach enables us to draw up a realistic and executable restructuring plan.

The WHOA as a strategic instrument

The WHOA offers new possibilities for companies to restructure debts outside of bankruptcy. This instrument is revolutionary because it offers the possibility to reach an agreement with creditors, even if not all creditors agree to it. In practice, we see that the WHOA can be very effective, but it does require careful preparation and implementation. The WHOA process has several phases:

Preparation phase

In this crucial phase, the foundation is laid for a successful agreement. We help with:

• Mapping all debts and creditors
• Drawing up a valuation of the company
• Developing a realistic restructuring proposal
• Preparing the creditors’ classification
• Het opstellen van een gedegen financiële onderbouwing

Silent preparation procedure

The possibility to prepare an agreement in silence is one of the great advantages of the WHOA. This prevents unrest in the market and gives space to come to a sound proposal. We guide you in:

• Applying for a restructuring expert
• Communication with key stakeholders
• Preparing for the vote

The agreement process

The formal agreement process requires a strategic approach. We ensure:

• Careful timing of the offer of the agreement
• Effective negotiations with different classes of creditors
• Organizing and supervising the voting
• The preparation of the homologation

Homologation by the court

The homologation by the court is the final and crucial step. We take care of:

• A sound justification for the agreement
• Rebuttal of any objections
• Representation at the hearing
• Implementation after homologation

Cooling-off period and protection

An important tool within the WHOA is the possibility to request a cooling-off period. This gives the company breathing space to prepare the agreement without creditors being able to take enforcement measures. We advise on:

• The strategic moment to request a cooling-off period
• The consequences for ongoing procedures
• Protecting critical contracts
• Communication with stakeholders during this period

Custom made for different situations

Every restructuring process is unique. We have specific experience with:

SME companies

For SMEs we offer practical solutions that take into account:

• Limited financial resources
• Personal guarantees from entrepreneurs
• Family relationships within the company
• Regional aspects

Larger companies

Bij grotere ondernemingen speleLarger companies often face more complex issues surrounding:n vaak complexere vraagstukken rond:

• -International aspects
• -Multiple stakeholders
• -Listed instruments
• Employee interests

Stakeholder management

A successful restructuring process requires careful stakeholder management. We have extensive experience with:

Creditors

• -Strategic communication with different types of creditors
• -Negotiations on adjusted payment arrangements
• -Maintaining critical supplier relationships
• -Dealing with financiers and banks

Employees and Works Council

• Communication with employees and works council
• Guidance for reorganizations
• Drawing up social plans
• Consultation with trade unions

Financial restructuring

An important part of many restructurings is the financial restructuring. We advise on:

• Renegotiation of financing terms
• Attracting new money
• Debt-for-equity swaps
• Sale and leaseback constructions
• Issuance of new shares

Guidance by experienced specialists

At Guldemond Advocaten you will have direct access to partners with years of experience in restructuring. We understand that restructuring processes are often under great time pressure and ensure:

• Fast response times
• Pragmatic solutions
• Strategic advice

Contact

Is your company facing financial challenges or would you like preventive advice on restructuring opportunities? Contact us for a confidential discussion. We analyze your situation and advise on the best approach for your particular situation.