Restructuring/Insolvency: Netherlands

THE FIRM This firm has a noted insolvency practice and also advises on restructurings. It has many clients in the transportation and construction industries, and major lending institutions have instructed it as creditors, including ABN AMRO and Deutsche Bank. Its spread across the Netherlands enables it to provide on-the-spot advice. It represented Deutsche Bank in the enforcement of security rights over the property of the European China Trade Centre. It is also assisting with the restructuring of GMAC RFC Nederland and advising the Clinquest Group on its negotiations with the trustee in bankruptcy of Clinquest Europe. The practice is a large one, consisting of 20 fee earners in total, and this capacity enables it to act as court appointee and represent creditors and debtors.

Sources say: “I get a response within 20 minutes even outside office hours. I get excellent partner attention, and the firm has everything it needs in-house.”

KEY INDIVIDUALS Barend de Roy van Zuidewijn is the head of the department and works across the spectrum, including as a trustee in bankruptcy. He has recently been trustee to Reggehuys Management and CEG Europe, a real estate insolvency involving more than 100 companies across several jurisdictions. An impressed client identifies his work as “the reason we come to this firm.”

THE FIRM This group puts a greater emphasis on financial restructurings and distressed debt than on acting as an administrator. It draws on the firm's excellent tax, corporate M&A, banking and finance and employment practices, and is also able to represent clients in contentious matters. As an international firm closely tied to London in particular, A&O is extremely well placed to act in international and cross-border matters for large lending institutions or distressed corporates, and this international expertise attracts praise from peers.

Sources say: “This practice is excellent. It's a huge presence in UK banking, so you can see the advantage of using it.”

KEY INDIVIDUALS Rob Abendroth brings his experience as an insolvency practitioner to bear on his restructuring banking work. He also advises on distressed debt trading. He heads the Amsterdam restructuring and insolvency practice, and is described by one peer as “a fine individual.”

THE FIRM This team has acquired some high-profile work recently, including representing the Dutch Central Bank in its attempt to secure the deposits made in the Icelandic bank Landsbanki. Its innovative work includes the use of US/UK style pre-packaged insolvency arrangements in its representation of Stirling Square. It also advised Merck subsidiary Organon on the closure of its Dutch research activities. The firm maintains a full-time, dedicated stable of restructuring and insolvency specialists.

Sources say: “The firm is renowned for its work for the Dutch Central Bank. It has an excellent insolvency practice.”

KEY INDIVIDUALS Wouter Jongepier heads the department and has recently been appointed as the trustee in bankruptcy of Thieme Groep, a large printing concern. Jacques Knol brings banking and finance expertise to bear on his insolvency and restructuring work.

THE FIRM In parallel with its extremely successful banking practice, this firm focuses on large-scale, multi-jurisdictional restructurings. It also has a notable practice in assisting distressed financial institutions. Important mandates for the firm include the international restructuring of LyondellBasell, in which the team successfully arranged a Europe-wide controlled enforcement parallel to a US Chapter 11 protection. It also advised the equity sponsor on the restructuring of the debt of a multinational hotel group in seven jurisdictions. The team regularly acts for creditors, including Deutsche Bank, ABN AMRO and Rabobank.

Sources say: “This firm has a vast international practice.” “A well-organised and efficient outfit.”

KEY INDIVIDUALS Jelle Hofland is a banking partner specialising in restructurings. A satisfied client commented: “He can drive through a deal and manage banking syndicates very well.” Angela McEwan also specialises in restructuring matters, and brings English law expertise to the Amsterdam team.

THE FIRM This team handles domestic and international matters, and supports clients in contentious procedures. It advises on financial and corporate restructurings, as well as insolvency administrations, recently acting as the trustee in bankruptcy for T.O.P. Holding, Drukkerij Stolwijk. It also represented the buyers in the asset sale of Link Art Company. Other clients include ABN AMRO Lease and GE Artesia Bank.

Sources say: "A fast-acting firm with an excellent price-quality ratio and great partner involvement.”

KEY INDIVIDUALS Jan Willem Bouman heads the team, and has advised companies from a variety of sectors, including retail, construction and transportation. Marcel Groenewegen acts as an administrator alongside his banking and finance practice. Clients value his understanding of their needs, and his proactivity and practical advice.

THE FIRM This firm is traditionally strong in restructuring and insolvency, and is further boosting its capabilities in this field with new additions to the team. It has a tradition of insolvency work, and has recently increased its cross-border activity, particularly in leveraged finance matters governed by English law. The team advised on the multi-jurisdictional Almatis restructuring, which involved a US Chapter 11 protection for the European operating company, resulting in litigation before the Dutch Enterprise Chamber. It also advised various Dutch banks on their exposure to the insolvent DSB Bank.

Sources say: “The firm has phenomenal capacity, and this meant it did a fantastic job on our restructuring.”

KEY INDIVIDUALS Berto Winters works on complex international restructurings, and handles litigation. He often advises foreign law firms on Dutch insolvency law. Ruud Hermans is the head of the practice, and specialises in contentious aspects of restructuring and insolvency. “He came to the work with a fresh view, challenged the consensus of the other lawyers in a way that was very good for us, and helped navigate a highly complicated process,” attests one client.

THE FIRM This firm specialises in cross-border work, with recent examples including the administration of Ineas, involving network partners across Europe. It acted on the Landsbanki insolvency as administrators winding down the Dutch operations, and litigated over the relevance of Dutch emergency regulations to the company. It also represented the creditors of Agrenco Netherlands, including Crédit Suisse and Rosemount Capital, in contentious debt recovery proceedings.

Sources say: “We received clear responses in good time, and the firm has a great international network.”

KEY INDIVIDUALS Marinus Pannevis is known for his work as an administrator and for his experience in cross-border restructurings. Clients also like working with Jasper Berkenbosch, who carries out trustee work for the Dutch Financial Supervision Authority.

THE FIRM A renowned insolvency practice remains at the heart of this firm's services. The team continues to act as trustees in bankruptcy following the collapse of Lehman Brothers and DSB Bank. It also handles insolvency work for Agrenco Netherlands. Restructuring clients include Goldman Sachs, which the firm represents as creditor in the restructuring of a real estate fund, and the Dutch National Railway, which it advises on the restructuring of its high-speed rail operation.

Sources say: “The partners have a commercial and business-minded approach, which is highly refreshing.” “When the job comes in, they free up the resources immediately and open the lines of communication. They work towards a resolution suitable for all parties."

KEY INDIVIDUALS Rutger Schimmelpenninck is considered to be one of the Netherlands' leading insolvency practitioners. His outstanding reputation has been further enhanced by his work on the insolvency of Lehman Brothers, for which he has been appointed trustee in bankruptcy. “I would go to him without question. He is pre-eminent,” notes a client. Frédéric Verhoeven impresses peers with his skills as both a restructuring adviser and an administrator. He joined Schimmelpenninck in the work as trustee for Lehman Brothers. Eddie Meijer is a well-known insolvency litigator and leader in this field. Marcel Windt, based in Rotterdam, is noted for his trustee work. Bert Verburg is known for his work as an insolvency practitioner.

THE FIRM This firm has a long tradition in restructuring and insolvency. A core team of five partners is supported by the litigation and banking groups, and the firm's heavyweight tax offering provides additional manpower. The firm does not have its own administration practice, but does offer advice to trustees in bankruptcy. The firm represented Oaktree Capital on the restructuring of the Almatis group, and is also advising bondholders on the bankruptcy of Lehman Brothers Treasury Co.

KEY INDIVIDUALS Hendrik van Druten heads the department.

THE FIRM Strength in insolvency litigation is key to this firm's practice, which consists of a traditional insolvency team of 25 lawyers, bolstered by support from the litigation and banking groups. It has achieved notable success in the EUR1.8 billion YUKOS case, representing the company and its Dutch subsidiaries in the enforcement of arbitration awards. The team acted for a consortium of banks on the restructuring of Kroymans, and also handled contentious matters in the case. The Dutch Central Bank used the firm for advice on insolvent credit institutions, including the bankruptcy of DSB Bank. In restructuring work, it assisted with the shift of the European Directories insolvency from the Netherlands to the UK.

Sources say: “This firm delivers top-of-the-bill insolvency advice and drafting work.” “This is a leading firm in financial restructurings; an important force.”

KEY INDIVIDUALS Robert Van Galen heads the department and earns warm praise for his insolvency work. “His drafting is beautiful, understated and dry. He is extremely eloquent and cerebral. I admire tremendously what he has achieved," says a source. Commentators also note Van Galen's superb litigation skills and strategic vision. Teun Struycken is a banking and restructuring specialist working on the Kroymans and European Directories matters. Barbara Rumora-Scheltema is a litigator whose insolvency work alongside Van Galen attracts praise from sources: “She is a serious player in her own right, with a brilliant eye for detail.”

THE FIRM This boutique has a slant towards litigation and contentious insolvency matters, and acts for large corporate clients. It is active in restructuring and takes on referral work from insolvency practitioners.

Sources say: “A niche firm of very high quality.”

KEY INDIVIDUALS Jako van Hees is a highly respected name in the field. Peers also note founding partner Nicolaes Tollenaar, and predict great things for him in the future. Lucas Kortmann receives compliments from sources for his work.

THE FIRM The team at Simmons & Simmons maintains a busy practice, acting as both administrators and restructuring advisers. Its portfolio includes financial institutions and corporate clients. Recently, it has advised institutional investors on real estate restructurings. The firm's international network sees the Dutch team working closely with colleagues around the world.

KEY INDIVIDUALS Gerhard Gispen is described as "an assertive litigator," and handles reorganisations and debt restructurings. He is a member of INSOLAD, the Dutch insolvency specialists' organisation. Barbara van Gangelen works on national and international reorganisations and restructurings. She is much admired by peers, who comment favourably on her work.

THE FIRM Stibbe has a busy court appointments practice and is increasingly active in advisory work, striking a balance between insolvency and restructuring instructions. The team handles national matters as well as cross-border work. It acted for a number of local authorities in relation to the insolvency of Landsbanki, and advised the managing directors regarding the Lehman Brothers Treasury Company insolvency. It also advised ATC Corporate Services on DSB Bank's insolvency.

Sources say: “This firm has insolvency practitioners, but also a lot of quality restructuring specialists. It's a force to be reckoned with.”

KEY INDIVIDUALS Karen Harmsen has a notable restructuring practice, and is well respected by her peers. Toni van Hees is best known for his work as a trustee in bankruptcy, and for his expertise on enforcement procedures.

THE FIRM Supported by the banking and finance team, this group handles restructurings and insolvency proceedings. It represents creditors as well as debtors, and is able to participate on cross-border matters thanks to its good working relationships with foreign law firms. In a recent example of international work, the team advised GSO Capital on the financial restructuring of Almatis. It also advised Rabobank and Rabo Private Equity on a debt-for-equity swap. The firm was appointed trustee in the multi-jurisdictional insolvency of Van Der Moolen.

Sources say: “It combines high-end restructuring capability with an ability to understand and execute complex financing and corporate transactions.”

KEY INDIVIDUALS Paul Schaink is the key contact for the restructuring and insolvency practice.

THE FIRM This Utrecht firm has a renowned restructuring and insolvency practice. The lawyers act mainly – but not exclusively ��� as court-appointed liquidators. The team advises on restructurings, including rescue plans to avoid liquidation, and on all aspects of insolvency procedures. Clients include high net worth individuals and financial institutions.

KEY INDIVIDUALS Willem Jan Van Andel is "one of the best receivers in the Netherlands," asserts a source. He is particularly strong in complex liability issues and litigation. Peers also note his ability to quickly come to grips with figures.