companies in financial distress

Action on taxation in box 3

Claudia Rondberg2024-11-12T11:04:54+00:00November 12, 2024|companies in financial distress, posts|

As we all know, there has been a lot of recent movement on box 3 taxation. Box 3 primarily taxes savings, investments and real estate. The assets in this box were previously taxed on the basis of a flat rate of return: the tax authorities set an assumed percentage, regardless of the actual return. This meant that many taxpayers paid taxes on a return they had not actually received. You may also have overpaid taxes in the past. If so, chances are you may be eligible for legal redress!

Directors’ liability after turboliquidation

Jeanine Vlot2024-10-11T13:33:29+00:00October 11, 2024|companies in financial distress, posts|

In a recent court case concerning turboliquidation of a catering business, the court ruled that the directors were not personally liable. The case involved the discontinuation of the business without assets, with creditors being paid pro rata. The landlord claimed unlawfulness, but the court held that the turboliquidation had been carried out correctly with no obligation of bankruptcy.

Director’s liability for tax debts

Jeanine Vlot2024-10-07T09:33:55+00:00October 7, 2024|companies in financial distress, posts|

Directors of troubled companies are usually aware that acts performed in the face of bankruptcy (if it comes to that) will be examined by a receiver. Unobligatory legal acts that have harmed creditors may be reversed by the trustee.

Bill to lift pledge bans

Jeanine Vlot2024-07-22T09:52:16+00:00July 22, 2024|companies in financial distress, posts|

On June 11, 2024, the House of Representatives adopted the Bill to Remove Pledge Prohibitions. As a result of the proposed regulation, it will no longer be possible to agree that receivables cannot be transferred or pledged. This article explains the proposed regulation.

Bankruptcy Transfer of Undertaking Act (Wovof)

Claudia Rondberg2024-05-30T12:17:00+00:00May 30, 2024|companies in financial distress, posts|

On 27 May 2024, the Transfer of Undertaking in Bankruptcy Act (Wovof) was submitted for consultation. All stakeholders will have the opportunity to respond to the bill until 22 July 2024. Thisis a follow-up to the earlier consultation in 2019. What is the purpose of this new legal regulation?

Forfeited penalty payment can serve as a support claim

Claudia Rondberg2024-04-26T13:06:16+00:00April 26, 2024|companies in financial distress, posts|

A creditor can proceed to file for the bankruptcy of a debtor. To do this, an application must be filed with the court. To do so successfully, hoForfeited penalty payment can serve as a support claim weaver, the creditor must make it plausible that the debtor is in a state of cessation of payments

Ground rent due during bankruptcy is not an estate debt

Jeanine Vlot2024-02-12T13:53:07+00:00February 12, 2024|companies in financial distress, posts|

Recently, the Supreme Court issued a ruling on the question of whether a ground lease rent that became due after the date of bankruptcy is an estate debt. In this article, I first explain what estate debts are and the relevance of the question answered by the Supreme Court for practice. I then discuss the judgment.

Reopening liquidation after turboliquidation

Jeanine Vlot2023-08-15T07:51:13+00:00August 15, 2023|companies in financial distress, posts|

If the business activities of a legal entity are discontinued, it must be considered how the legal entity will be wound up. If there are no more assets at all, a turboliquidation can take place. This is dissolution without the appointment of a liquidator. The legal entity then ceases to exist immediately. A resolution for dissolution is passed and the board notifies the Commercial Register of the end of the legal entity's existence.

Liability of foundation director in case of rained-out festival

Claudia Rondberg2023-05-08T13:47:46+00:00April 28, 2023|companies in financial distress, conflicts, posts|

A director of a foundation can also run the risk of being held personally liable. This is nothing new, but is demonstrated once again by a recent judgment of the East Brabant District Court. The director of a foundation set up to organise a festival had entered into new financial commitments a day before the start of the festival, while weather forecasts were poor.

Temporary law on transparency turboliquidation

Claudia Rondberg2023-03-23T11:05:29+00:00March 23, 2023|companies in financial distress, posts|

A boom in bankruptcies was expected at the beginning of the Covid pandemic. This expectation did not materialise, partly due to the many support measures that the government has rigged for business. Many companies took advantage of NOW, TVL and also special tax deferral schemes.

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