The WHOA offers entrepreneurs the opportunity to restructure their debts outside bankruptcy by offering a deed of arrangement. By homologating or approving the deed of arrangement, all creditors and shareholders involved in the deed of arrangement are bound by it, even those who have not consented to the deed of arrangement. Read the step-by-step plan here: "the WHOA proceedings explained in ...
The INSOLAD Rules of Practice for Bankruptcy Trustees set out general principles that guide the actions of the bankruptcy trustee. The bankruptcy trustee: is independent and has integrity; be guided by the interests of the estate and take into account interests of a social nature; strives for objectivity in his judgment; performs his work carefully, competently, energetically and efficiently ...
The task of the bankruptcy trustee is set out in article 68 paragraph 1 FW: "The liquidator is in charge of the administration and liquidation of the bankruptcy estate." According to paragraph 2 of this article, the bankruptcy trustee does so under the supervision of a supervisory judge. The bankruptcy trustee performs his duties primarily for the benefit of the ...
What collateral can a supplier invoke if its customer goes bankrupt? To be considered (among others) is retention of title, a reserved pledge and the right of reclamation. This contribution will discuss the right of reclamation. The right of reclamation is a legal right to reclaim a movable, non-registered property from the ...
What collateral can a supplier invoke if its customer goes bankrupt? To be considered (among others) is retention of title, a reserved pledge and the right of reclamation. This contribution will discuss the reserved pledge. The reserved pledge does not arise automatically, but must be expressly stipulated, which also applies ...
What collateral can a supplier invoke if its customer goes bankrupt? To be considered (among others) is retention of title, a reserved pledge and the right of reclamation. This contribution will discuss retention of title. Retention of title does not arise automatically but must be expressly stipulated, which also applies to a ...
The Wet Homologatie Onderhands Akkoord (WHOA) allows the court to approve (homologate) a deed of arrangement between a company and its creditors and shareholders for debt restructuring. Approval makes an agreement binding on all creditors and shareholders involved in the agreement. This is also referred to as a compulsory settlement. The WHOA ...
