A comparison of the new Dutch Scheme and the new UK Restructuring Plan.
The European restructuring landscape continues to evolve with the recent introduction of a new restructuring procedure (UK Restructuring Plan) into the United Kingdom’s restructuring tool kit. The UK Restructuring Plan was enacted as part of the Corporate Insolvency and Governance Act 2020 (CIG Act) which became effective on 26 June 2020; it is closely based on the UK scheme of arrangement procedure (UK Scheme) which debtors in the UK and abroad have utilised to restructure their financial indebtedness for decades.
Read the full GT Alert, “A New European Restructuring Landscape.”