Short Reads

Consultation Modernization bankruptcy proceedings

Consultation Modernization bankruptcy proceedings

Consultation Modernization bankruptcy proceedings

23.12.2015 NL law

On 2 December 2015 the draft bill on modernization of bankruptcy proceedings entered into public consultation. The bill is part of the Dutch legislative programme to improve and modernize bankruptcy law, known as Wetgevingsprogramma Herijking faillissementsrecht in the Netherlands.

 

  1. the bankruptcy proceedings will be brought more in line with technological developments and possibilities of the digital age. Provisions that preclude the use of electronic communication will be changed so that meetings can take place over the internet and vital information can be distributed digitally;
  2. with the aim of improving the management of the assets of the bankrupt and the acceleration of the settlement of the bankruptcy, a tighter deadline for the submission of claims by creditors will be introduced;
  3. the proposal provides more customization possibilities in bankruptcy. One of those possibilities is that the bankruptcy judge will decide whether and when there will be a creditors’ meeting;
  4. finally, the proposal contributes to further specialization in the Judiciary and supports the legislative process, through a new advisory Insolvency Board which can advise on bankruptcy policy and application of the Bankruptcy Act in practice.

According to the Minister of Security and Justice, the measures proposed in the context of digitization will connect as much as possible with the KEI programme. For more information about this programme see the previously published blog KEI: Digitization of the justice system.

In line with the KEI programme, the bill will facilitate and promote the use of digital tools during bankruptcy proceedings. Easily accessible digital information will enable creditors to respond more quickly to a bankruptcy of a debtor.

The consultation period runs until 1 March 2016. Reactions to the bill must be given before the consultation period expires. Judges, trustees, lawyers, entrepreneurs and consumers belong to the target group of the proposal, but everyone is free to respond.

The post “Consultation Modernization bankruptcy proceedings” is a post of www.stibbeblog.nl.

 

Team

Related news

30.06.2021 NL law
Breaking off negotiations: obligation to renegotiate

Short Reads - As long as a contract has not yet been concluded, the parties’ freedom of contract is paramount.  In principle, the parties are free to decide whether to continue or break off negotiations. Nevertheless, circumstances may arise under which breaking off negotiations is unacceptable. One of the remedies available to the injured party in such a case is to seek a court order to continue negotiations. This blog post discusses the chance of success of such a court order, and the factors involved.

Read more

07.06.2021 NL law
Climate case Milieudefensie et al. – The Hague District Court orders Shell to reduce CO2 emissions

Short Reads - On May 26, 2021, the District Court of The Hague rendered its judgment in the case between Milieudefensie and others against Shell. In this blog, a multidisciplinary team from Stibbe gives its first view of this ruling and explains why it could be a groundbreaking ruling.

Read more