Suspension of payments
1
A designated period to catch up on and restructure debts, during which creditors are temporarily barred from making claims and bankruptcy proceedings cannot be initiated
1
2
1
5
Court of First Instance
Deliver the petition in triplicate at the Court of First Instance
1
50 court costs + 20 in stamps for 1st page and 10 per additional page
You will receive one stamped copy as proof for yourself
Court of First Instance
Receive invitation via email
15
The duration may be shorter if summary proceedings (kortgeding) are requested by the lawyer, although this can increase court costs to NAf 450.
Court of First Instance
1
Summary proceedings/’kort geding’
Court of First Instance
1
5
Trustee
2
125
Trustee
20
Trustee
Review and sign agreements
14
Conduct monthly payments
240
Trustee
Trustee provides update to Court every 3 months
Bankruptcy proceedings
Court of First Instance
Director of company submits petition
2 creditors submit petition
450
Court of First Instance
Receive invitation via email
15
Court of First Instance
1
Court of First Instance
1
Bankruptcy is final and cannot be reversed.
Trustee
Bankruptcy decision calls on creditors to submit claims
5
Trustee
Trustee sends letters to creditors and gathers documentation
Must submit supporting documents
Case by case
Based on bankruptcy laws
Trustee & Court of First Instance
Court Meeting or online meeting with creditors and debt holding company
90
Value of company assets and total estate debts are determined
Public Auction is organized through a notary
If needed, a 2nd public auction is organized
Available funds are distributed in order:
Bankruptcy costs
Taxes
Employees
Banks and other preferred creditors
Trustee fees depend on the size of the estate in the bankruptcy.
The base hourly rate is set by the court at ANG 425 per hour, multiplied by:
an experience factor based on the number of years of experience (0.6, 0.8, 1.0, or 1.3), and
a boedel factor (estate complexity factor).
The fee structure must be approved by the supervisory judge (rechter-commissaris), and payment is made from the estate (boedel)
Deregister from:
Chamber of Commerce
Tax Authority
Social Insurance Bank (SVB)
Tax Authority
Department of Labor
