Category: Insolvency law in The Netherlands
A trustee wants to initiate a claim in insolvency proceedings against an Indian company. But is the Dutch court competent to hear this dispute? And what if the dispute does not involve the bankruptcy itself, but a (derived) Paulian action against fraudulent acts in respect of creditors? Who is competent then? These questions were addressed in a recent case involving international insolvency law. Dutch lawyer for insolvency law Hidde Reitsma discusses the ruling.
Read more about: International insolvency law: does a Dutch court have jurisdiction?
In a recent case before the Court of Appeal of Amsterdam, a dismissal of a company’s own application for bankruptcy was upheld in appeal. The Court of Appeal found that the authority of a company to apply for its own bankruptcy had been misused. When is there misuse? Dutch insolvency lawyer Heleen Ceelen explains.
Read more about: Misuse of authority in company’s own bankruptcy application?
In a recent ruling the Court of Appeal of The Hague upheld the bankruptcy of a private limited company that had been declared in spite of the fact that the company had ceased to exist (with a so-called expedited dissolution) after the application for bankruptcy was filed, but before the application had been heard. Lawyer Heleen Ceelen discusses the possibilities of the bankruptcy of a company after liquidation.
Read more about: Bankruptcy possible after expedited dissolution of Ltd
After the banks announced they would not be providing any new finance, Imtech filed for suspension of payments. This means that most creditors temporarily could not lay claim to Imtech property. Last Thursday, Imtech was declared bankrupt, which meant the suspension of payments was changed into a bankruptcy. Many suppliers are at risk of losing money. Dutch bankruptcy law specialist Sander Schouten discusses the options which exist to safeguard the rights of creditors as far as possible.
Read more about: Creditor of bankrupt Imtech in The Netherlands? This is what you can do
When a bankrupt company is relaunched there are many issues. Is the entire company taken over or does the buyer only take over certain (healthy) components? What happens with current contracts? And are the aggrieved parties entitled to damage compensation? These issues were addressed in recent proceedings about the aftermath of the bankruptcy of a hospital. Insolvency lawyer Marco Guit explains.
Read more about: Ophthalmologists unemployed after relaunch hospital
Yesterday was announced that the fashion brand Mexx, which went bankrupt in December of last year, has been taken over by Turkish retailer Eroglu. AMS Lawyers advises Eroglu, which owns 700 stores in 38 countries, during the restart.
Read more about: Dutch law firm AMS advises Eroglu on Mexx restart
When a private company goes bankrupt, the directors and officers can be held liable for all debts of the bankruptcy. This applies in cases of improper management. The trustee shall always investigate this and if necessary
Read more about: Directors’ and officers’ liability in bankruptcy due to breach of accounting obligation
At the time that a director or officer commits a company to an agreement, while he is reasonable aware that he cannot comply with this agreement, this director or officer can be held liable for any loss. This problem was recently addressed in the court of Maastricht (The Netherlands). Dutch contract lawyer Martijn Kesler discusses the ruling.
Read more about: Directors’ and officers’ liability in The Netherlands: the Beklamel standard