Filing for bankruptcy2022-05-24T15:03:58+00:00

Financial difficulties

Filing for bankruptcy

An entrepreneur, who may be a private individual, can file for bankruptcy with the court by himself or bankruptcy can be declared by the court at the request of a creditor. A general partnership or a legal entity can apply for insolvency and can be declared insolvent by the court at the request of a creditor. These are two separate procedures and different requirements apply to both procedures.

Bankruptcy applied for by individual

A lawyer is not required to file a declaration of bankruptcy. However, it is wise to consult with an attorney in the phase immediately preceding the decision to file for bankruptcy to determine whether the risks of continuing the business are (too) great or whether quitting is the best option.

If quitting the business is the best option, it should be determined whether filing for bankruptcy is the appropriate course of action as there are other options that are worth considering. A lawyer can also explain the procedure for filing bankruptcy and prepare the business owner for the role of a trustee.

Bankruptcy applied for by a creditor

If a creditor wants to file for the bankruptcy of a debtor, he must instruct a lawyer to do so. The request is sent to the competent court, after which the court summons the debtor.

How to file for bankruptcy by an individual

After filing a self-declaration or after sending a request for bankruptcy to the court, the debtor is heard in a courtsession closed to the public. The court can declare bankruptcy if the debtor is ‘in the stage of not being able to pay’. There must be ‘summary evidence’ of facts or circumstances that the debtor can no longer pay. If the proceedings are instituted at the request of a creditor, summary evidence of the creditor’s right of action is also required.

Finally, the debtor must prove by providing basic evidence that he is unable to pay debs by presenting several unpaid debts (the support claims). By using the word “basice evidence,” the legislature indicates that normal rules of evidence do not apply. A bankruptcy hearing is a short procedure in which there is little room for detailed evidence. The existence of the right of action and the existence of the supporting claim(s) must be shown after a short and simple examination.

LVH Attorneys & Insolvency

The attorneys at our Rotterdam office have extensive experience in filing for bankruptcy and insolvency, and in defending against bankruptcy petitions. In addition, they have experience as bankruptcy trustees themselves.

We will be happy to help you if you are considering filing for bankruptcy, want to file for bankruptcy of a debtor or want to defend against a bankruptcy petition.

More about Companies in financial difficulties:

Please click further if you would like to know more about how we can advise you on the following areas/topics:

SPECIALIZED LAWYERS

These are our lawyers who are specialized in this area.

Peter de Graaf

+31(0)10 209 27 52
degraaf@lvh-advocaten.nl
(more…)

Justin de Vries

+31 (0)10 209 27 52
devries@lvh-advocaten.nl
(more…)

Rob Steenhoek

+31 (0)10 209 27 52
steenhoek@lvh-advocaten.nl
(more…)

Wat vinden onze cliënten

We hebben al enkele jaren zeer goede ervaringen met LVH advocaten. Het kantoor kenmerkt zich door een gedegen Rotterdamse down-to-earth werkmentaliteit met daarbij een uitstekende kennis van zaken. Bij onze laatste samenwerking heeft Mr. R.C. Steenhoek ons als adviseur bijgestaan tijdens de afwikkeling van een faillissement. Door zijn ruime ervaring als curator is mr. Steenhoek zeer deskundig in deze trajecten. Hij is zeer toegankelijk, weet de belangrijke details te benoemen, denkt vele stappen vooruit  en komt met een duidelijk plan van aanpak. Tijdens de afwikkeling van het faillissement met de curator heeft mr. Steenhoek ons voortreffelijk vertegenwoordigt. We zijn zeer tevreden over het behaalde resultaat en we zijn ervan overtuigd dat zonder zijn expertise we dit niet op deze wijze hadden kunnen afhandelen.

P.E. van Erk

In 2019 en 2020 hebben wij LVH Advocaten benaderd voor een advies om de zaak op een zorgvuldige en deskundige wijze te beëindigen. Dit is volledig op een praktische en binnen een zeer korte periode opgelost. Hij had altijd zijn volledige aandacht voor mijn verhaal. Het is op een zeer nette manier afgehandeld. De samenwerking was perfect!

Met alle dank aan de heer Steenhoek.

Ton Hameeteman

More about companies in financial distress

Rejection of homologation request WHOA agreement

February 1, 2022|

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. 

Go to Top