Preparing bankruptcy to be made easier

What changes?

Do you have a company which serves societal purposes such as a hospital or an educational institution? And are you experiencing financial difficulties? You will be able to prepare in relative peace for a potential upcoming bankruptcy. This way the settlement will run more smoothly, improving your chances of continuing your business or making a restart with the profitable parts of your company.

You can ask the court to appoint a 'silent administrator’. This silent administrator advises you and helps you in your dealings with creditors. The silent administrator will also help you to find a solution for your financial problems to prevent bankruptcy.

For whom?

• companies that serve societal purposes, for instance hospitals and educational institutions, and are experiencing financial difficulties

When?

It is not yet known when the Business Continuity Act I (Wet continuïteit ondernemingen I, WCO I) will enter into force.

Please note: The effective date of this measure is not yet final. Entry into force is subject to its passing through the upper and lower houses of parliament or proclamation of the Order in Council (Algemene Maatregel van Bestuur, AMvB) or ministerial decree and publication in an official State publication (Staatsblad or the Staatscourant, in Dutch).