“Insolvency legislation on its own will not do the trick”, says Robert van Galen, one of the lead partners of our successful Restructuring & Insolvency team, who was recently interviewed by Global Restructuring Review (GRR) because he is the Dutch representative to United Nations Commission on International Trade Law working group V and past president of INSOL Europe.
In the interview, Robert comments that the Netherlands’ new restructuring law will solve some of the problems presented by the covid-19 pandemic, but not all. “Insolvency legislation on its own will not do the trick because insolvency legislation is geared at single companies and what we have here is a whole economic fabric that we have to save. So that is a rather fundamental difference, and it makes it complicated.”
Furthermore, he reflects on our firm’s preparedness for the wave of restructurings coming down, the long term effects and the measures introduced in the Netherlands so far, while also explaining why it's important the European Union remains united through the crisis.
You can read the full interview in the PDF attached.