Banking & finance
We advise our clients on how to structure and file financing transactions. This can involve new and re-financing whether within the context of a restructure or not. We are also highly experienced with national and international transactions, acting on behalf of both financiers and borrowers. Our team has extensive experience across the sector including shareholder loans, corporate finance, acquisition finance, real estate finance and project finance.
We also regularly apprise and litigate on financing and securities’ disputes.
Our lawyers bring a wealth of knowledge gained at leading international practices and financial institutions. We pride ourselves on the accessible and client-oriented approach of our firm. Whether securing complicated re-financing or litigating in a case concerning the execution of a pledge, we are really making a difference for our clients.
Recent matters
We have acted for a PE portfolio company on the restructuring of a lease resulting in a reoccurring sub-lease vacancy risk reduction and reoccurring cost reduction against financial support of the sponsor and bank. The Dutch Scheme (WHOA) was leveraged to reach a consensual deal.
We have acted for Tennor Holding B.V. in the appeal proceedings against its bankruptcy. Tennor has paid all operational creditors and has agreed ‘standstill’ arrangements with all its financial creditors. The Court of Appeal in Amsterdam accepted Tennor Holding B.V.’s argument that herewith the ‘insolvency situation’ was resolved and the bankruptcy was annulled on that basis.
Acting for a high end plant breeder, active in vegetable growing and floriculture, on the amendment and restatement of its Senior Facilities Agreement with one of the leading Dutch banks.
We have advised Tennor Holding B.V., on its agreement with certain of its material creditors to restructure financial indebtedness of the Tennor Group and certain affiliated entities. The restructuring will include the issuance of EUR 1,450,000,000 First Super Senior Secured Notes by Tennor Holding B.V. and, subject to conditions, the transfer of certain existing equity securities of the Tennor Group which are currently held by creditors and the cancellation, subject to conditions, of existing bonds of the Tennor Group and certain of its affiliates which are currently held by creditors. For more information see: https://tennor.com/tennor-group-agrees-to-restructuring-of-financial-indebtedness-with-material-creditors/
Acting for a provider of horticulture technology on its financial restructuring, including an amendment of its Senior Facilities Agreement with one of the leading Dutch banks and the structuring of a Subordinated Loan.
Acting for the management participation vehicle in the restructuring of IHC Merwede Holding, one of the largest Dutch shipbuilders, whereby the shares in IHC were acquired by a consortium of strategic parties and investors, supported by the Dutch State. Our instruction commenced early 2019 when we advised the management participation vehicle on the EUR 1.6 billion refinancing of IHC Merwede Holding.
Acting for Mercon, a service provider for tank and industrial support in maintenance and constructing projects in optimizing its capital structure.
Acting for Quick Parking Holding, a Dutch parking multinational, in its refinancing.
Assisted a group of funds on the refinancing of a €750m Revolving Credit Facility (September 2018) provided to Hemisphere International Properties B.V. and the further implementation thereof (until October 2019). Hemisphere was holding approx. €1,1 billion real estate for Steinhoff International Holding N.V.
Acted for Rabobank on the collection of a receivable, pledged in its favour. In court proceedings in respect of the collection of the receivable, an objection to jurisdiction of the District Court of Amsterdam was filed on the basis that a pledgee should not be allowed to rely on a choice of forum in the underlying agreement between the pledgor and its counterparty. On behalf of Rabobank, we successfully opposed the objection both in the first instance and on appeal.
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