Is a right of usufruct on claims a meaningful alternative?
Is a right of usufruct on claims a meaningful alternative? A right of usufruct gives the right to use goods ...
Reduction of amount for which the director is liable
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
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.
Does the WHOA apply to claims by industry pension funds for pension premium arrears?
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.
The position of the SME entrepreneur as a creditor in a WHOA arrangement
On 1 January 2021, the Homologation Underhand Arrangement Act (WHOA) entered into force. This law introduced a new restructuring instrument. Its purpose is to prevent companies from being declared bankrupt while they are still (partially) viable. The statutory scheme includes a minimum protection for (smaller) SMEs. This is also referred to as the 20% rule. In this article I will explain the position of the SME as a creditor in a WHOA settlement.
Can a cash payment made after the bankruptcy date be reclaimed?
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
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.
Is interest on a rental debt also a debt of the estate?
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.
Disproving the legal presumption concerning director liability in bankruptcy
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.
Annulment of guarantee legally valid?
For some legal acts, one spouse needs the consent of the other spouse. In the absence of consent, the other spouse may annul the legal act. Under certain circumstances, this also applies to the provision of security deposits.
