Last week, Janshen-Hahnraths Group (Fair Play Centers B.V. and Fair Play Online Casino) reached a debt settlement with all involved creditors (100%). This marks the successful conclusion of a complex and intensive WHOA procedure. Michiel Peeters and Peter Brouns acted as legal advisors to Janshen-Hahnraths Group throughout the WHOA process.
With 22 casinos across the Netherlands and an online casino, Janshen-Hahnraths Group is a key player in the gaming industry. Thanks to the debt settlement, the group—boasting over 65 years of experience in the gaming and slot machine sector—remains intact for more than 340 employees, as well as numerous suppliers and partners. This agreement lays the foundation for a healthy and sustainable future.
The WHOA offers companies in financial distress the opportunity to restructure their debts outside of bankruptcy. Under this law, a settlement can be imposed on dissenting creditors, provided that legal requirements are met. This makes the WHOA a powerful tool to preserve viable businesses and enable restarts. In the case of Janshen-Hahnraths Group, the WHOA process resulted in full consent from all creditors, culminating in a successful resolution.
