On 15 November 2023, the Temporary Act on Transparency of Expedited Liquidation (Turbo Liquidation Act) will enter into force. It aims to increase trust in the expedited liquidation procedure by improving its transparency, the legal protection of creditors and combatting the abuse of the procedure.

Background

Dutch football club ADO Den Haag has filed for WHOA proceedings after its major shareholder failed to pay €2 million due to the club, leaving it unable to meet its financial obligations.

The decision