This plan required coordination with a large amount of financial investors and involved many technical complexities related to developing and building a solution for Lightyear to its financial problems and highly complex enforcement of IP rights. The restructuring allows the Lightyear founders to further produce the Lightyear 2 model – an electrical vehicle driving on autonomously generated solar energy.
The restructuring was realised with a pre-trustee (beoogd curator) and included the sale of assets to the new Lightyear group out of the currently (planned) insolvent group by the bankruptcy trustee. Lightyear believes that this restructuring is in the interest of the Lightyear business and takes into account the interests of all stakeholders involved. This is confirmed by the overwhelming number of shareholders and financial investors who support the restructuring. The restructuring of Lightyear provides Lightyear with fresh investments and a new simplified structure.
“We have come to know and to like the founders of Lightyear and we are really happy that we have found a way to enable them to continue working on their dream to design and develop solar cars”, says Teun Struycken, who led the team together with Sybren de Beurs and Robert Woudenberg.
The team further consisted of Rebecca Runa Fernandes Pinto, Harm van Schaijk, Sophie Umans and Jafar Alhashime (Corporate M&A), Arthur Boitelle (Insolvency & Restructuring), Jules van de Winckel, Daan Hagelstein, Marloes van der Laan and Eline Keuning (Corporate Notarial), Nico Blom and Pieternel van den Brink (Tax), Antonia Netiv and Sabrina Legerstee (Capital Markets) and Homme ten Have and Claire Nelissen (Employment).