companies in financial distress

December 5, 2024

Land grabbing: the legal options when losing ownership of land

2023-02-13T09:45:22+00:00February 7, 2023|companies in financial distress, conflicts, posts|

There may be a dispute between neighbors about who owns a particular piece of land. Such a dispute may arise if at any time one of the neighbors places a yard fence in such a way that it takes possession of a piece of land owned by the other. The owner has the option of claiming his property (or filing a revindicatory action). However, such a claim cannot be brought after a period of time due to acquisitive prescription.

Termination of banking relationship by bank

2023-11-20T10:03:24+00:00September 6, 2022|companies in financial distress, posts|

It is increasingly common for banks to terminate a relationship with a customer - sometimes dating back many years. Such termination of a banking relationship can have serious consequences for a business owner. Can a bank terminate a credit relationship? When is it allowed and when is it not? Below is a brief explanation of the background to such termination and the rights and obligations of banks and account holders.

Reduction of amount for which the director is liable

2022-07-04T09:57:58+00:00July 4, 2022|companies in financial distress, employees, posts|

A director is liable under article 2:248 paragraph 1 of the Dutch Civil Code (BW) to make good the deficit in the bankruptcy if the board has manifestly mismanaged its duties and it is plausible that this was a major cause of the bankruptcy. Based on paragraph 4 of this article of law, the court can mitigate the amount for which the director is liable under certain circumstances.

The wage guarantee scheme: continued payment of wages in the event of the employer’s bankruptcy

2022-06-28T07:24:52+00:00June 27, 2022|companies in financial distress, employees, posts|

The Unemployment Insurance Act includes a scheme that entitles employees to payment in the event of payment problems on the part of the employer. The regulation is also called the wage guarantee regulation. It also regulates which benefits an employee can claim in case of bankruptcy of the employer. In this article I will discuss the main provisions of the wage guarantee scheme that apply in the event of bankruptcy and I will go into a recent judgment of the Supreme Court on this subject.

Request for debt restructuring and Corona: the tax collector thinks along

2023-02-13T14:39:08+00:00May 12, 2022|companies in financial distress, enterprise and business, enterprise and government, posts|

Until further notice, the Tax Authorities will approach requests for restructuring of tax debts with a flexible attitude. This applies in particular to requests from entrepreneurs whose businesses are fundamentally sound and who have been affected by the Corona crisis. For these entrepreneurs, the generous corona deferral policy may prove to be of no avail.

Can a cash payment made after the bankruptcy date be reclaimed?

2022-02-22T08:53:45+00:00February 17, 2022|companies in financial distress, employees, news, posts|

Recently, the Supreme Court issued an interesting judgment involving two important principles of bankruptcy law, namely the principle of fixation and the principle of paritas creditorum. The case concerned a situation in which, after the bankruptcy date, a cash payment was made from the bankrupt's bank account to a creditor. The central question was whether the trustee could recover the payment from the creditor. This article discusses the case, the relevant principles and the Supreme Court's opinion.

Rejection of homologation request WHOA agreement

2022-02-01T15:05:46+00:00February 1, 2022|companies in financial distress, posts|

The Homologation Underhand Arrangement Act (WHOA) went into effect on January 1, 2021. In the meantime, a substantial number of rulings have been issued on it. It remains to be seen how practice will develop and whether it can be said whether the introduction of the Act has been a success. To date, the number of (published) granted homologation requests is still relatively small. 

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