After years as CFO in the MT of the Debutgroep, Bert van Doorn joined HorecaAdviesBureau.nl to use his knowledge of the hospitality industry and in particular the financial side of it to assist entrepreneurs with financial-, fiscal-, financing- and subsidy issues. In this pandemic era, Bert is mainly involved in helping ailing companies with regard to the WHOA legislation and in the field of financing options.
From an interview with Bert, the following was noted:
TOA and WHOA, what can that mean in the hospitality industry?
“It's there specifically for entrepreneurs in need who want to restart”, says Bert van Doorn of HorecaAdviesBureau.nl
The government has created two fine instruments to support companies that can regain financial health and develop sufficiently viable business activities, namely the TOA (Time-Out-Arrangement) and the WHOA Wet Homologatie Onderhands Akkoord).
The TOA credit is a new credit instrument that will provide subordinated capital and thus contribute to the buffer capital. The execution of the TOA credit is invested with Qredits and will only be paid out in combination with a WHOA process.
The government has created two fine instruments to support companies that can regain financial health and develop sufficiently viable business activities, namely the TOA (Time-Out-Arrangement) and the WHOA Wet Homologatie Onderhands Akkoord).
The TOA credit is a new credit instrument that will provide subordinated capital and thus contribute to the buffer capital. The execution of the TOA credit is invested with Qredits and will only be paid out in combination with a WHOA process.
The WHOA
The WHOA helps entrepreneurs to reach an agreement with creditors (and shareholders). This helps to clear debts and prevent bankruptcies. The court will soon be able to confirm (homologate) a plan, whereby creditors (or shareholders) who have not agreed to the plan will still be bound by the plan. Conditions are that the requirements set for the agreement in the WHOA are met and that there is sufficient support for the agreement.
Collaboration
We at HorecaAdviesBureau.nl already delved into this last year and entered into a partnership with, among others, the Ministry of Economic Affairs, Hoens & Souren Advocaten and Hermes-Advisory, which specializes in financial expertise in disputes, pre-eminently the best advisers to guide these difficult procedures in your field.
Not every company can participate in the WHOA process, so before we enter into an expensive process with you, we can first do a QuickScan. If your company is not suitable for the WHOA process, there are many other options that we can look at together.
There is 200 million available for the entire SME in the TOA, make sure you are there on time, because that pot of money will certainly empty, but the question is when….
Bert van Doorn
Partner HorecaAdviesBureau.nl
[email protected]
Not every company can participate in the WHOA process, so before we enter into an expensive process with you, we can first do a QuickScan. If your company is not suitable for the WHOA process, there are many other options that we can look at together.
There is 200 million available for the entire SME in the TOA, make sure you are there on time, because that pot of money will certainly empty, but the question is when….
Bert van Doorn
Partner HorecaAdviesBureau.nl
[email protected]