A recently enacted Dutch law enables businesses and organizations to avoid bankruptcy through a court-approved restructuring plan. As an implementation of the 2019 European Restructuring Directive, the so-called Dutch Scheme can be used to restructure debts and improve profitability, for example by applying forced debt reduction or debt-for-equity swaps. This new legislation entered into force on 1 January 2021 and is already proving to be an effective tool for business in financial distress. In this article, the authors describe its main characteristics.