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.
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 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.
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.
The Supreme Court recently issued a ruling on the question of whether the Homologation Underhand Agreement Act (WHOA) applies to claims by industry pension funds for pension premium arrears. The question was answered in the negative. This article discusses the judgment.
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.
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.
On 24 December 2021, the Supreme Court ruled on the question of whether statutory or contractual default interest on rent owed as an estate debt is an estate debt.
A director is liable to make good the deficit in the bankruptcy if the board has manifestly mismanaged the company and it is likely that this was a major cause of the bankruptcy.
On the 17th March 2020, the Cabinet announced a large number of measures. These measures are aimed at supporting companies and freelancers. The measures include measures to maintain employment on the one hand and measures to ensure that companies do not go bankrupt and that self-employed people can maintain an income on the other hand.
Legal questions, or even conflicts, are part of doing business. According to LVH, this is not something to fear, but something to take seriously. LVH’s goal is to help you in such a way that you can continue to concentrate on your business operations with peace of mind. LVH is a Rotterdam law firm with skilled, committed and decisive lawyers who, through their way of working, are able to build long-term relationships with their clients and, in a position as in-house lawyer, can and may support entrepreneurs with all possible legal issues. LVH is convinced that professionalism and job satisfaction go very well together, both in the relationship with customers and with each other in the office.
Visiting address
World Port Center Rotterdam
Wilhelminakade 955
3072 AP Rotterdam
By phone: 010 209 27 77
E-mail: info@lvh-advocaten.nl
Legal questions, or even conflicts, are part of doing business. According to LVH, this is not something to fear, but something to take seriously. LVH’s goal is to help you in such a way that you can continue to concentrate on your business operations with peace of mind. LVH is a Rotterdam law firm with skilled, committed and decisive lawyers who, through their way of working, are able to build long-term relationships with their clients and, in a position as in-house lawyer, can and may support entrepreneurs with all possible legal issues. LVH is convinced that professionalism and job satisfaction go very well together, both in the relationship with customers and with each other in the office.
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Visiting address
World Port Center Rotterdam
Wilhelminakade 955
3072 AP Rotterdam
By phone: 010 209 27 77
E-mail: info@lvh-advocaten.nl