NautaDutilh has launched a new Benelux restructuring and insolvency team, in response to the effects of the credit crunch.

The new team will consist of around 20 lawyers, drawn from the firm's banking, insolvency and litigation groups. It will be headed by insolvency and restructuring partner and head of corporate Robert van Galen.

The development comes as the Netherlands begins to feel the impact of the downturn in the economy. The move makes Nauta one of the first firms in the country to launch a specific group in response to the latest problems in the economy.

Val Galen said that although the firm's finance team remained busy it had seen an increase in insolvency work.

He explained: "We see an opportunity here and a need in the market. We have combined these sections to form one co-ordinated group to provide our clients with an integrated approach, which we think we are particularly well-placed to provide to clients."

The news follows a decision by the Dutch independent to bring in a new associate partner rank.