Attachment of earnings - money is paid directly from the judgment debtor’s wages/salary into court by the debtor’s employer to satisfy the judgment debt.

Bankruptcy proceedings - you can currently apply to make an individual judgment debtor bankrupt for a judgment debt in excess of £5,000. The limit is £500 for applying to put a company into liquidation. The nuclear options.

Bent u bestuurder van een vennootschap die failliet is? Dan kunt u, onder omstandigheden, aansprakelijk worden gehouden voor het boedeltekort. Met deze 3 praktische tips kunt u het risico op aansprakelijkheid zo veel mogelijk voorkomen.

Bogra is a company that is active within the funeral industry. As a result of serious financial problems, an administrator (bewindvoerder) was appointed on 28 June 2017. On the same date Bogra was declared bankrupt (30 June 2017), the employment agreements of Bogra’s employees were terminated. Funico acquired (part of) Bogra’s assets on 18 July 2017 due to an asset transaction. Effective 19 July 2017, Bogra’s activities were continued by Bogra Uitvaartkisten.

Crusade against dormant companies: make sure you file your annual accounts on time!

Introduction

On 5 September 2017, the Dutch legislator published an amended bill on pre-insolvency proceedings in the Netherlands1 for consultation purposes.2 The Bill contains a proposal for an amendment to the Dutch Bankruptcy Act (Faillissementswet) which enables a company in financial difficulties to propose a composition outside insolvency proceedings to its creditors and shareholders, to restructure problematic debts.

The recast Insolvency Regulation of 20 May 2015 embodies a further step towards the harmonisation of European Union insolvency law. The main provisions are set to apply to insolvency proceedings as of 26 June 2017.

The key changes relate to a broader scope, the “centre of main interests” (COMI) concept, secondary proceedings, group insolvencies and the introduction of insolvency registers. Overall, the new elements will increase the chance of a positive outcome in complex cross-border insolvencies and offer better cooperation and transparency.

Shareholders’ Rights and Shareholders’ Meeting

Introduction

On 23 June 2016 the UK population voted for the UK's exit from the European Union (EU). The applicable exit procedure and certain possible legal consequences of Brexit for Insolvency & Restructuring will be discussed below in the form of a Q&A.

The past 12-18 months have seen some of the biggest changes to established insolvency law and practice in England and Wales since the Insolvency Act 1986 and Insolvency Rules 1986 (the old Rules) came into force. These have culminated with the new Insolvency Rules 2016 (the new Rules), which become effective on 6 April 2017 and are intended to consolidate the old Rules (including all 28 subsequent sets of amendments to them).

Op 25 januari 2017 hebben de voormalig bestuurders en commissarissen van Meavita een schikking getroffen met de curatoren voor een bedrag van EUR 1,8 miljoen, zonder daarbij aansprakelijkheid te erkennen. De FNV is geen partij bij deze schikking, waardoor de (mede) door de FNV ingestelde enquêteprocedure in beginsel doorloopt. Of de FNV ook doorzet in de enquêteprocedure bij de Ondernemingskamer is nog onduidelijk.

Meavita