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

21.07.2022 NL law
Dutch Supreme Court decides against the pledgeability of non-transferable claims

Articles - Lawyers occasionally wonder how the law ended up as it is. We had that experience after the Dutch Supreme Court’s decision of 1 July 2022 (Rabobank/Ten Berge q.q.; ECLI:NL:HR:2022:984), regarding the possibility or impossibility of pledging a claim. The Supreme Court decided that claims that have been made non-transferable under property law in a contractual agreement between a creditor and a debtor, cannot be pledged either.

Read more

03.05.2022 NL law
Bijdrage Tijdschrift voor Insolventierecht

Articles - Gertjan Boekraad schreef voor het Tijdschrift voor Insolventierecht een annotatie bij een arrest van de Hoge Raad over de vraag hoe in het faillissement van een bedrijf om te gaan met de vordering van de overheid die een milieuovertreding van dat bedrijf moet herstellen.  

Read more

23.02.2022 NL law
Courts take lenient approach to standing of ‘idealistic’ claim foundations under Dutch class action regime

Short Reads - Recent case law on the standing of ‘idealistic’ claim foundations shows courts’ lenient approach. Under the class action regime that entered into force in January 2020, claim foundations face stricter admissibility requirements as a counterbalance to their newly gained power to institute an opt-out damages claim. 

Read more