Daycare company Estro was declared bankrupt in July 2014, but the undertaking was relaunched immediately, as the relaunch was prepared in a ‘pre-pack’ insolvency. All 3600 employees of the bankrupt company were dismissed by the administrator. About 2600 employees were immediately employed again by the relaunched company, which company was a so called ‘connected party’ as the shareholder also held a substantial part of the shares of Estro.

The Dutch shrimp factory Heiploeg was declared bankrupt in November 2014. The undertaking was relaunched immediately, as the relaunch was prepared in a ‘pre-pack’ construction. All 180 employees of the bankrupt company were dismissed by the administrator. 120 employees were immediately employed again by the relaunched company, but on different employment conditions.

Unfortunately your business can be confronted with bankruptcy of one of your (Dutch) business partners. In most cases this will damage your business. We can help you to avoid or limit damages. In this edition of TW FOUR we will set out FOUR ways to protect your business from the bankruptcy of one of your (Dutch) business partners.

European Insolvency Regulation

European Insolvency Regulation