Insolvency and restructuring

Insolvency and Restructuring

The majority of our corporate lawyers are specialists in the field of insolvency and restructuring. We at FORT can advise every kind of stakeholder on matters concerning all areas of insolvency law and restructuring. Matters for which we provide pragmatic and made-to-measure solutions. Furthermore, our insolvency and restructuring specialists are often

appointed as administrators in suspensions of payment and as trustees in bankruptcies, also in very complex cases.

We have knowledge and expertise in respect of both the legal and the commercial aspects, which makes us excellent advisors for entrepreneurs who are involved in a restart or are faced with the threat of insolvency.

The developments in insolvency and restructuring are occurring at a high rate. We at FORT therefore keep our clients abreast of the most recent developments.

Insolvency and restructuring

Areas of Expertise Insolvency and Restructuring

FORT’s Insolvency and Restructuring practice group advises on the following matters, among others:

  • Restart of businesses
  • Restructuring
  • Debt collection and recovery of assets
  • Liability of managing directors, supervisory directors, shareholders and trustees
  • Insolvency litigation
  • Risk analysis of companies in financial distress
  • Establishment and reinforcement of security rights
  • Debt settlement with creditors
  • Bankruptcy and suspension of payments

Track record Insolvency and Restructuring


The high-profile bankruptcy of the V&D chain of department stores led to a large number of aggrieved suppliers, both in the Netherlands and internationally. FORT assisted a number of suppliers in effectively

securing their specific rights, recovering their goods and recovering the receivables concerning goods that were sold in the period of continuation of the V&D department stores after the liquidation order.

Restructuring of a group of companies in the hospitality sector

FORT advised a group of companies in the hospitality sector on means of safeguarding the continuity of the holding company and its subsidiaries. After a thorough risk analysis, a financial rescue operation was conducted. Two companies were assisted in the insolvency proceedings and certain activities were divested. The remaining companies were financially and legally restructured in order to give them a solid footing for the future.

Imtech (property rights and securities)

The bankruptcy of the Imtech companies is the largest bankruptcy case in Dutch history. FORT’s insolvency specialists have advised creditors in the insolvent estate on the protection of their property rights and the reinforcement of securities.

Restart of a prominent beach hotel

Only hours after a well-known luxury hotel had been declared bankrupt, a prominent chain of hotels purchased its activities. FORT advised the purchasing hotel chain on how to realise its vision by preparing it for the negotiations and assisting it throughout the process. The historical five-star beach hotel is now fully incorporated in the hotel chain.

Mexx (bankruptcy)

Frits Kemp, associated with FORT , was appointed as trustee in the bankruptcy of Mexx, a Netherlands-based fashion house chain and clothing wholesaler, operating internationally. The Mexx brand is well-known in large parts of the world.

The first priority was to safeguard the value of the company in order to sell off the activities on a going concern basis, which implied the continuation of the sale channels until the assets were sold. After a period of negotiations a restart of the majority of the business activities was achieved.

Venture capital firm (bankruptcy)

Merijn Tops, associated with FORT, was appointed as trustee in the bankruptcy of a Netherlands-based venture capitalist firm, which held shares in four trust companies. The shares represented a capital investment of over 60 million euros. In this specific case the liquidation of the estate generated sufficient assets to pay off its creditors in full.

Kroymans Corporation (bankruptcy)

Over 50 companies, belonging to the import and retail divisions of the Kroymans Corporation, were declared bankrupt. Frits Kemp, associated with FORT, was appointed as one of the two trustees in these complex bankruptcies.

The Kroymans corporation was a large player in the automotive industry in the Netherlands, Belgium, and Germany. The group had over 4,000 employees and generated a net turnover of approximately 2 billion euros. Kroymans was best known to the public for its dealerships of high-end brands such as Ferrari and Maserati as well as for its main-market brands, such as Alfa Romeo, Opel, and Kia.

Bearing in mind the large interests at stake, the trustees successfully managed to restart fifteen businesses, thereby maintaining nearly 60% of employment.

Insolvency and restructuring
Insolvency and restructuring