The committee’s primary goal is to systematically compile the experiences from both WHOA and non-WHOA restructuring cases, to extract the lessons to be learnt from those experiences and to share these with the association’s membership and thereby develop a set of best practices for restructurings. The committee will develop an assessment and reporting system for this purpose.
The commission aims to develop systematic assessment at three levels:
The committee envisages that the assessment and sharing of experiences can take place through the completion of a list with key topics which the committee will develop. A facilitator, proposed by the committee, will conduct the assessments during a physical or digital meeting, in such a manner that the required confidentiality and privacy is observed. From these assessments lessons can be drawn that are relevant to a broader audience, while confidentiality is respected. The assessments can be an important driver in developing best practices, contribute to the further development of the role of the restructuring expert (herstructureringsdeskundige), and serve as input for the Education Committee.
Member participation in assessments is voluntary but members of the association are expected to be cooperative. The assessments will mainly focus on the practical aspects of a restructuring. Areas of focus will include: the process, the cooperation and communication between the parties, the way of identifying, selecting and sharing relevant information and the roles of the various participants in the restructuring process. Legal aspects will primarily be analysed elsewhere (in the legal literature and by other committees). The committee aims to issue recommendations annually (or more frequently where required) and in any event to share its thoughts on the further development of the role of the restructuring expert and to propose an initial set of best practices for restructurings after the first year.