Clifford Chance
Clifford Chance acts for Bio City in landmark Dutch WHOA proceedings with change of governing law
17 June 2024
- Tim Lees (He/Him), Guido Bergervoet, Evert EJR Verwey, Siert Klinkhamer, Katelyn Ewart, Emma Buchanan, Nicole Georgiou, Michiel Sunderman, Nolan Groenland
- London, Amsterdam
Clifford Chance acts for Bio City in landmark Dutch WHOA proceedings with change of governing law
Global law firm Clifford Chance has acted for Bio City Development Company, in a landmark decision of the District Court of Amsterdam, sanctioning for the first time 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 some restructuring techniques pioneered on UK schemes, and demonstrates the pragmatism and rigour of the Dutch WHOA process.
Read more about this landmark restructuring here and here (in Dutch).
The cross-border Clifford Chance team was led by Tim Lees (Partner) in London and Guido Bergervoet (Partner) and Evert Verwey (Senior Counsel) in the Netherlands. Restructuring and litigation associates Siert Klinkhamer and Annefloor Frentz also advised in the Netherlands. All members of the Dutch restructuring and litigation team appeared before the Amsterdam Court. The team in London included Katelyn Ewart, Emma Buchanan, and Nicole Georgiou. Michiel Sunderman (Partner) and Nolan Groenland (Counsel) provided Dutch law tax advice.
