On 1 January 2019 the Modernisation of Bankruptcy Procedure Act (MBPA) entered into force in the Netherlands. The MBPA brings Dutch bankruptcy law into the 21st century by modernising a number of aspects of the bankruptcy procedure (faillissement).
In particular, the MBPA aims to achieve the following three goals:
- i) increased digitalisation and transparency;
- ii) increasing the speed of the procedure; and
- iii) providing for a more madeto- measure procedure and more specialisation and expertise.
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