Insolvency law

Insolvency law includes all the rules and laws on private persons and companies who are (or threaten to become) unable to meet their financial obligations. The goal is to protect both creditors and debtors and, in many cases, to seek the fairest possible resolution. Whether you are a creditor of an insolvent company or your company is in a delicate financial position, we help you through these complex processes, working closely with administrators, liquidators and lawyers.

 

 

This is how we can help you

In the field of insolvency law, we can support you from our expertise, including in the following areas:

  • preparing for bankruptcy or payment moratorium;
  • restructuring of companies;
  • buying company parts out of bankruptcy;
  • assisting in restarting a company from bankruptcy;
  • (re)financing the company;
  • (directors’) liability (from creditors, trustee and tax authorities);
  • recourse claims;
  • group liability;
  • disputes with insolvency liquidators
  • We advise on all aspects of insolvency law. Because of our extensive receivership practice, we are able to advise you and properly assess the (litigation) risks of insolvency proceedings.

Our specialists are regularly appointed by the court as trustees in bankruptcies or as administrators in moratoriums. We also frequently assist companies facing the (imminent) bankruptcy of a customer or supplier.

If you have a question, please feel free to contact one of our lawyers.

Preparing for bankruptcy

Our specialists assist you with preventing a bankruptcy filing or, as the case may be, filing for bankruptcy or suspension of payments. We point out the risks in the twilight zone right before bankruptcy. What are you allowed to do and what not? Which payments can still be done and which cannot? We provide practical tools to organise this as good as possible.

WHOA and restructuring

As of January 1st, 2021, the WHOA (Homologation Private Agreement Act) is in effect. Based on this law, to avoid bankruptcy, a company can force creditors to agree to a lower amount than the creditor is actually entitled to.

In doing so, it is important to have good discussions with stakeholders, such as financiers and tax authorities. The insolvency laws and regulations have far reaching provisions that can even take away or limit shareholders’ rights, or terminate contracts in certain cases. Through timely intervention and good anticipation, it is often possible to avoid bankruptcy or suspension of payments.

Although a restructuring usually concerns the continuity of a company, we can also assist you with the liquidation of your company. In such a situation, we make a careful assessment of the possibilities for restructuring together with you. We work closely with other experts such as accountants, tax consultants, appraisers and notaries.

Buying business assets from the bankruptcy estate

Special rules and risks apply when buying assets out of bankruptcy. We know these rules and we are familiar with the pitfalls and risks. We can rely on the extensive experience of our specialists in previous insolvency matters.

Restart

Many bankruptcies are followed by a restart: assets are sold to a buyer, who often also takes over (part of) the staff. What do you need to do to qualify as a potential buyer? What is the bidding process like? What options are there for financing? Are you at risk with taking over staff? What can you expect from suppliers? We can securely guide you and optimize the chances of a successful relaunch.

 

Financing and securities

We take care of credit documentation and advise on collateral constructions, including drafting surety bonds, and pledge and mortgage deeds. If necessary, we ensure that collateral is actually obtained. You can think about exercising pledge and mortgage rights, but also about invoking retention of title by suppliers, the right of claim, or (group) guarantees. We help you to secure your position in the best possible way.

 

Our way of working

1
Introduction and needs determination

We will take stock of your question and look together at what you need, so that we can help you as best as possible.

2
Drawing up a plan and proposal

Based on your question, we will create a decisive plan and price indication to arrive at a solution.

3
Start of the collaboration

Once we have approval, we will start. It is only logical that you are helped as soon as possible.