Is your company in financial trouble? Are you considering filing for bankruptcy? Or is your bank threatening to terminate your financing? In that case, expert advice from one or more of VIOTTA’s insolvency lawyers is essential. It is often important to act decisively and quickly. Timely intervention often increases the chances of survival of your company. An impending bankruptcy also offers opportunities. For example a restructuring, followed by a restart. VIOTTA’s insolvency lawyers have many years of national and international experience at various law firms at their disposal and can provide you with sound advice.
Dutch law has two insolvency proceedings.
1) Suspension of payment
Suspension of payment is a postponement of payment. A suspension of payment can be filed for at the court. If a number of criteria are met, the court can issue an order declaring that creditors need not be paid for a certain period of time.
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You can file for bankruptcy yourself. Your creditors can also do this. The court will determine whether the bankruptcy petition is justified. You can defend yourself against this in person (during the hearing) or in writing. After approval of the bankruptcy petition, a trustee is appointed. During the verification phase, the trustee will check your accounts and all your assets. Subsequently, the trustee will draw up a proposal for the creditors, who can agree to this (composition). If no composition with creditors is reached, the judge will declare the bankruptcy. In that case, the assets of your company will be sold to pay your creditors. Your position relative to the trustee is an important issue. Our insolvency lawyers have experience in negotiations with and legal proceedings against trustees.
Broad support for your organisation
Our team of lawyers in Amsterdam has many years of experience with numerous suspensions of payment, bankruptcies and restructurings. Our legal experts can carry out successful rescue operations for companies in distress. During that process they pay attention to all the stakeholders. Not only the management of the company, but also the shareholders, supervisory directors, employees, pledgees and mortgage holders, and creditors can count on them.
Assistance after a restart after bankruptcy
If you engage a lawyer from VIOTTA, you are assured of assistance from experienced insolvency lawyers. If bankruptcy is unavoidable, our lawyers are ready to assist you. We will assist you with the settlement of the bankruptcy and a possible restart after the bankruptcy. If required, we can call in foreign offices from our international network in order to successfully complete a cross-border bankruptcy or a cross-border restructuring.
Need advice on insolvency and possible restructuring? Bring in VIOTTA
Do you need expert advice from an experienced insolvency lawyer regarding the financial position of your company and the possibility of restructuring? If so, contact VIOTTA. Thanks to our experience and knowledge, we are familiar with the subject matter and we know how to handle the most complex cases effectively and efficiently. Contact us, we will be happy to help you.
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VIOTTA is a law firm based in Amsterdam and is specialized in advising on the areas of corporate law, mergers and acquisitions, contract law and corporate & commercial dispute resolution. We advise in transactional matters.