Messages about the economy are considered daily rates and messages that successively warn of an economic crisis or a strong recovery of the economy follow each other in quick succession.
Although the signals are green and the market is anticipating a broadly supported recovery, there is a realization that this will not apply to every company. During the pandemic, structural market trends have accelerated significantly, such as the adoption of remote working and the acceleration of online spending. These trends are irreversible and lead to necessary adjustments. This can lead to an increase in insolvency challenges.
At the same time, the Homologation Underhand Agreement Act (WHOA) raises many questions. This bill provides in the Bankruptcy Act that the court can approve (homologate) a private agreement between a company and its creditors and shareholders regarding the restructuring of debts. Creditors who have not agreed to the plan can still be bound by the plan if the decision-making process and the content of the plan meet certain requirements. Own real estate or current rental obligations of an organization can be part of the solution to achieve a (compulsory) restructuring or forgiveness of debts.
Cushman & Wakefield has a proven track record in strategy and execution in insolvency and bankruptcy cases. In order to better respond to the increasing need for integrated services, we have combined our activities in this area in the Restructuring & Insolvency team. This multidisciplinary team realizes interim asset management solutions for financiers, administrators, receivers, users, investors and developers, with which the risks to real estate or loan portfolios and the estate can be limited.
The team, consisting of experts from every discipline within the organization, offers one integrated approach for, among other things, the strategy, management, transactions and financing of a single asset or real estate portfolio.
Jan Verhaegh, Head of Office Consultancy: The dust from the commotion caused by the pandemic is beginning to settle and current forecasts point to a speedy market recovery. In order to be and remain prepared for the future and the trends that have become visible more quickly as a result of the crisis, now is the time to examine the possibilities and possible insolvency risks within real estate or loan portfolios. In order to further optimize our services, we have bundled the knowledge and expertise of our specialists in the field of insolvency and bankruptcies in the multidisciplinary Restructuring & Insolvency team.
Read more about the team and our working method in the accompanying brochure (in Dutch).