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Insolvencies and reorganisation

The court regularly appoints lawyers of our firm as receiver for insolvencies of businesses and as administrator for moratoriums. The experience our lawyers gain during those processes is used when we advise and assist businesses that are in financial difficulties. After all, insolvencies often cast a shadow.

If your company is in difficulty, you need to act fast. Insolvency may be prevented by means of reorganisation or restructuring. The required knowledge and experience of our lawyers may help you reach a solution. Examples of such solutions are hiving off business units, mediation for refinancing, organising the sale of healthy business units prior to insolvency - under the supervision of the receiver to be appointed - with a view to preserving the value of those business units (the pre-pack), meditation for and reaching (extrajudicial) agreements with the bank, the tax authorities and other creditors.

Our lawyers, who have experience with labour law, can help to lay off staff in the case of a reorganisation. Good preparations and a clear strategy are vital in that respect. Good guidance can save a lot of costs.

It may prevent a director - prior to insolvency - from acting in a way towards your business that is unacceptable and which may harm your business. We are able to assess whether these actions are unlawful and can hold the director personally liable for the damage suffered by your business.

If you are this director and you are not aware of having done anything wrong, we can assist you to avert liability. 

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Court of Appeal rules that ‘pre-pack is a transfer of a company’

In case of a pre-pack, also called a pre-packaged insolvency, an intended receiver is working on a relaunch some time prior to the declaration of the bankruptcy, so a relaunch may be realised shortly after the declaration of the bankruptcy, possibly even the same day. The aim of the pre-pack is continuation of the company with the highest possible yield.

The Enhancement Position of Receivers Act has entered into force

On 1 July 2017, the Enhancement Position of Receivers Act (Wet versterking positie curator) entered into force.

Right to prior consultation Works Council in the event of bankruptcy

In the case between the Works Council and the receiver of the chain of chemist's shops DA, the Netherlands Supreme Court issued a judgement on 2 June 2017, in which in summary it ruled that the right to prior consultation of the Works Council, as incorporated in Article 25 of the Works Council Act (WOR) in principle also applies to the event in which a company has been declared bankrupt.

Problems when the lessor invokes a bank guarantee for vacancy losses due to bankruptcy of lessee

The Supreme Court recently passed an interesting ruling that provides more clarity about to what extent a bank can have recourse against the insolvent estate if it has paid an amount for vacancy losses within the framework of a bank guarantee.

Peter de Graaf

insolvencies and reorganisation

+31 (0)10 209 27 52
Justin de Vries

insolvencies and reorganisation, business and shareholders

+31 (0)10 209 27 52
Rob Steenhoek

insolvencies and reorganisation, business and shareholders

+31 (0)10 209 27 52

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