Homologation Private Agreement in Bankruptcy Act (WHOA)

Does your company have a heavy debt burden? Is your company burdened by long-term unprofitable contracts? Or is there a deadlock between the banker and your shareholders (or the shareholders among themselves) concerning capital? In that case, the Homologation Private Agreement in Bankruptcy Act (Wet Homologatie Onderhands Akkoord) may offer a solution.

The WHOA was introduced to make it possible for companies with financial problems to restructure their debts and avoid bankruptcy. The law is also useful for companies with shareholder problems, such as scale-ups needing new investments. The WHOA provides opportunities to force shareholders to surrender shareholder rights to enable these investments. There are also opportunities to get rid of unprofitable tenancy or other agreements.

Cees is part of Equitize Value, a multidisciplinary consortium of national experts for WHOA projects. In this way, we have all the disciplines needed for a complex agreement procedure at our fingertips. Of course, we are also happy to cooperate with other professionals in the field of restructuring.

We can assist you in drawing up the agreement, preparing the proceedings, presenting the draft agreement, communicating and negotiating with stakeholders, requesting interim measures (such as a cooling-off period) or court decisions and the possible sanctioning of the agreement.

Not only the company itself, but also a shareholder, creditor or employee can make use of the WHOA. This can be done by asking the court for the appointment of an independent restructuring expert. This requires submitting a number of quotations from possible restructuring experts. The court ultimately decides on the appointment.

With our knowledge and experience, we know what a WHOA process entails and are able to prepare a suitable offer for the court within a short space of time. We meet the criteria of the court. We operate independently and impartially and work objectively, purposefully and discreetly. Good cooperation, based on trust and respect, is essential. Although the company and the restructuring expert each have their own responsibility, they serve a common interest: reaching agreement.

Contact

Cees Advocaten is als partner verbonden aan Equitize Value

Equitize Value is a national consortium of tax, financial, legal and business experts. Equitize Value optimizes companies that are facing organizational or financial problems, so that doing business becomes worthwhile again. Equitize Value does this not only by restructuring unprofitable parts, but also by optimizing business activities and facilitating financing and working capital. Equitize Value's solutions are therefore not only aimed at averting threats to the continuity of your company, but more importantly: improving returns and strengthening business value.

Does your company suffer from internal and external factors that are detrimental to your solvency, liquidity or continuity? Do you need restructuring of business units, optimization of business operations and a capital injection? Then you have come to the right place at Equitize Value.

With its combined tax, financial, legal and business expertise, Equitize Value has all the knowledge to translate complex or critical business issues into practical and results-oriented solutions.
Equitize Value's business expertise ensures that your focus is on the strength of your company.
Equitize Value's network, consisting of independent financiers and informal investors, makes it possible to provide bridging financing or working capital.
By the methodical approach Equitize Value is able to realize qualitative changes within various organizational structures and cultures. Equitize Value does this in a structured, systematic, fast and effective manner.

On behalf of Cees, Mr. Bruno Tideman and mr. Emile ten Berge Involved in Equitize Value.

Want to know more about Equitize Value and/or our role as a partner? Please contact Bruno Tideman or consult the website www.equitize.nl.