Are you, as a creditor or otherwise, involved in a bankruptcy or suspension of payment? On this page, we explain to you what you can expect if Hoens & Souren is a trustee in bankruptcy or administrator.
If you are otherwise involved in a bankruptcy or insolvency, information on what we could mean for you can be found here.
About Hoens & Souren
Our bankruptcy practice was established in 1985. We have a great deal of experience in finalising bankruptcies and suspension of payments in very diverse sectors: from real estate to wind turbines, from rose growers to ladies’ fashion, from care institutions to water rides. With regard to size, the bankruptcies vary from one-man businesses to businesses with thousands of employees.
Bankruptcies for which trustees have been appointed from our office include:
For more information on these bankruptcies, please click on the links. Below is a video about our role as the trustee in the bankruptcy of Dutch Water Dreams:
What can you do as a creditor?
For most ordinary creditors, bankruptcy is often disappointing. This is because the bank(s), the Dutch employee insurance agency (UWV) and the tax authorities are highest on the list for the proceeds. Furthermore, there are often bankruptcies with barely any assets. But we always do our best to achieve maximum results for the creditors and, sometimes, this means payment. And every once in a while, we even succeed in obtaining 100% for all creditors.
This is why it is useful to submit your claim to the trustee in bankruptcy. We have made this easy for you by setting up a web portal: www.crediteurenlijst.nl, where you can upload your claim and the corresponding documentation. This service also keeps you informed on the progress of the bankruptcy. A public report is issued for each bankruptcy every three months. These reports can be found at https://insolventies.rechtspraak.nl.
In the case of larger bankruptcies, creditor meetings are often held or a creditor committee is appointed (creditors may request this from the court). In this way, creditors can have a say in the settlement of the bankruptcy. This may also be done on an individual basis: if you possess interesting information, naturally, we would like to hear about it.
What can you do as an employee?
If you are an employee, you can report to the UWV for back wages and wages for the notice period. The dismissal letter that you will receive from us contains detailed information about this. Together with the UWV, we often organise a joint intake for all employees.
What can you do as a landlord?
If you are a landlord and have to deal with a bankrupt tenant, you can cancel the tenancy agreement with the trustee in bankruptcy. After bankruptcy, the rent during the notice period has high privilege and can often be paid in whole or in part. If the rental obligation is covered by a bank guarantee, please be sure to submit a claim to this in time.
What does a trustee in bankruptcy do?
In the Netherlands, the trustee in bankruptcy is usually a lawyer who specialises in settling bankruptcies. The trustee is appointed by the court. As from the time of appointment, the trustee manages the financial matters of the bankrupt party. The bankrupt party itself is no longer authorised to do so. The trustee attempts to obtain as much money as possible for the creditors within the bounds of bankruptcy law.
Click here for a detailed description of bankruptcy.
What does an administrator do?
In case of a suspension of payment, an administrator is appointed by the court. He manages the financial matters of the ‘person subject to a moratorium’, together with its board. Suspensions are often quickly converted into bankruptcies. Sometimes, a suspension of payment can lead to an agreement with the creditors.
Do you want to know more?
If you have any questions, please contact our insolvency assistants Robin van Gelderen and Michel Bal at telephone number 079 363 8776.