Relaunch after bankruptcy2021-12-17T15:59:55+00:00

Financial difficulties

Home » Specialist areas » Companies in financial distress » Relaunch after bankruptcy

Relaunch after bankruptcy

Taking over business activities from a bankruptcy can offer many opportunities for a restart. It can be an excellent opportunity to start a new business activity, to increase the market share of an existing activity or to obtain certain valuable business assets or know-how.

A relaunch is not only possible by third parties. It also happens that the management of the bankrupt, with or without the support of shareholders of the bankrupt, want to restart the bankrupt company.

Bidding procedure for relaunch after bankruptcy

In a bankruptcy of any size, a trustee will rig a bidding process with bidding rules. Candidates accept an obligation of confidentiality. Under secrecy, candidates are then given information about the activities of the bankrupt company, the nature and extent of its tangible and intangible assets, customer base, staff and so on, so that the candidate gets a good picture of the company as it was and what the potential is in a restart. Making an offer is usually not without obligation for the bidder, while the trustee will keep a close eye on whether or not to accept bids.

Preparation for bidding procedure for relaunch

It is very important for the candidate, who wishes to participate in a bidding procedure and make a bid, to be well prepared. Is the information provided by the trustee sufficient? What exactly is being bid for? And what is an appropriate amount to bid? Is the intention to take over personnel? Can the bidding be structured to make it more attractive for a trustee to accept the bid?

The trustee will compare the various bids and accept the best offer or possibly continue negotiations with some comparable candidates. In principle, the trustee will be guided by the interests of creditors, and accept the highest bid. However, the trustee may also take other circumstances into account when evaluating bids, such as, for example, employment. In the bidding rules, a trustee will want to create a lot of room for his assessment.

Lawyers advising on a relaunch

Our lawyers are well versed in these subjects. They also work as trustees, so they have a good overview of the playing field. Moreover, our lawyers have experience in assisting parties who wish to realize a relaunch. Getting advice on a relaunch increases the chances of getting a good deal.

We will be happy to help you if you wish to realize a relaunch transaction.

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.

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…)

Peter de Graaf

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

Client reviews

We have had very good experiences with LVH Advocaten for several years. The firm is characterised by a down-to-earth Rotterdam work mentality combined with excellent business knowledge. In our last cooperation, Mr. R.C. Steenhoek assisted us as an advisor during the settlement of a bankruptcy. Due to his extensive experience as a trustee, Mr. Steenhoek is very knowledgeable in these matters. He is very approachable, knows how to point out important details, thinks many steps ahead and comes up with a clear plan of action. During the settlement of the bankruptcy case with the receiver, Mr. Steenhoek represented us excellently. We are very satisfied with the result achieved and are convinced that without his expertise we would not have been able to handle the case in this way.

P.E. van Erk

In 2019 and 2020, we approached LVH Lawyers for advice on how to end the case in a careful and competent manner. This was resolved in a completely practical manner and within a very short period of time. He always had his full attention for my story. It was settled very neatly. The cooperation was perfect!

I would like to thank Mr Rob Steenhoek for this.

Ton Hameeteman

More about companies in financial distress

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

May 12, 2022|

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?

February 17, 2022|

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.

Go to Top