Bankruptcy and Insolvency Lawyers in The Netherlands
​MD Lawyers International Law Firm | Advocaten
Our Lawyers in the Netherlands are specialized in Bankruptcy and Insolvency procedures. According to Art. 1 of the Dutch Bankruptcy Law "a debtor that is not able to pay his debts will be declared bankrupt either at his own request or either upon request of one or more of his creditors" .
According to art. 2 of the Bankruptcy Law, the competent court to declare a subject bankrupt, is the one where the subject is resident. The petition can be filed only by a Dutch lawyer (art. 5 Bankruptcy Law).
In the Netherlands the following subjects can be declared bankrupt:
  1. The limited liability companies (B.V. and N.V);
  2. The partnership companies (V.O.F.);
  3. The individual companies (C.V);
  4. The individuals.
The main requirements to be considered insolvent are:
  • the debtor is not able to pay one or more creditors;
  • the creditor has tried to collect the credit before.
It is also important to specify that if a limited liability company is declared bankrupt, the managing director can be considered personally liable for the whole debt according to the art. 248, book II of the Dutch Civil Code (in case of mismanagement that brought the company to be bankrupt).
When a company is declared bankrupt, the trustee appointed by the Court will send the communication to all the creditors informing them about the deadline to submit their claim in the bankruptcy procedure.
Our Law Firm in the Netherlands is able to assist a foreign Client that wants a company to be declared bankrupt or also to submit his claim in procedures that are already started.
We work in the whole Dutch territory thanking to the netwok we built during the years.
We look forward to cooperate with you.