Directors’ liability after turboliquidation
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
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
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)
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
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
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
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
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
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.
Land grabbing: the legal options when losing ownership of land
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.
