Articles

Senate agrees with bills on bankruptcy fraud

Senate agrees with bills on bankruptcy fraud

Senate agrees with bills on bankruptcy fraud

04.05.2016 NL law

 

On 5 April 2016 the Senate approved two of the three legislative proposals aiming to combat bankruptcy fraud by :

  1. introducing director disqualification under civil law (‘Wet civielrechtelijk bestuursverbod’, Kamerstukken II 2013/14, 34 011 )
  2. revising the criminalization of bankruptcy fraud (‘Wet herziening strafbaarstelling faillissementsfraude’, Kamerstukken II 2013/14, 33 994

These proposals are part of the legislative programme entitled ‘Reassessment of bankruptcy law’ (‘Herijking faillissementsrecht’) and are expected to enter  into force on 1 July 2016.

With the introduction of the bill on director disqualification under civil law, it becomes possible to disqualify directors for up to five years for committing bankruptcy fraud or misconduct before the commencement of the bankruptcy. Disqualified directors are not allowed to act in their capacity as a director during the disqualification period and are also not allowed to join another organization as a director or supervisory director. With this measure the government aims to combat bankruptcy fraud and irregularities surrounding bankruptcy and prevent fraudulent directors from continuing their activities. A director disqualification is imposed by the civil court at the request of either the Public Ministry or the trustee under the bankruptcy of a legal entity of which the person in question was the director.

The second bill on the revision of the criminalization of bankruptcy fraud seeks to introduce more criminal law options to tackle bankruptcy fraud. To further increase the effectiveness of the fight against bankruptcy, existing criminal bankruptcy provisions will be modernized and legal instruments expanded so that, for example, breaching the obligation to keep records or authorizing excessive spending prior to bankruptcy resulting in a disadvantage for creditors will become criminal offences.

The third bill intended to combat bankruptcy fraud  is currently pending in the House and aims to strengthen the position of the trustee in bankruptcy (‘Wet versterking positie curator’, Kamerstukken II 2014/15, 34 253) by a variety of measures including  the expansion of information and cooperation obligations. As a result of this bill, a trustee in bankruptcy will have more options  to detect and tackle irregularities surrounding bankruptcy.

The ‘Reassessment of bankruptcy law’ programme includes a total of seven legislative proposals, which are intended to strengthen the reorganizing ability of companies and modernize bankruptcy law and combat bankruptcy fraud at the same time.

The post “Senate agrees with bills on bankruptcy fraud” is a post of www.stibbeblog.nl

Related news

21.03.2019 EU law
Our TMT team examines the interaction between GDPR and other key legal domains during a seminar 'GDPR 360°'

Seminar - Erik Valgaeren, Partner TMT, and his team organize a seminar which focuses on the interaction between GDPR and litigation, corporate law, administrative law and employment law.

Read more

29.01.2019 NL law
How to remedy a default under Dutch law?

Short Reads - Under Dutch law, a debtor can remedy a default by offering to perform its obligations at a later date. Such an offer, however, has to include an offer to pay for damages and costs incurred as a result of the default (art. 6:86 DCC). If the creditor refuses to accept an offer that meets such criteria, the creditor will be in default.

Read more

15.02.2019 NL law
Commercial interest on overdue interest payments on a loan – uncertainty remains

Short Reads - If a person buys a car from a car dealer and fails to pay the purchase price on the agreed date, that person has to pay not only the purchase price but also statutory interest (Clause 6:119 DCC), unless otherwise agreed. If a car dealer buys the same car from an importer and fails to pay the purchase price on the agreed date, that car dealer has to pay commercial interest, which is a much higher rate, instead of the normal statutory interest (Clause 6:119a DCC).

Read more

29.01.2019 NL law
Inwerkingtreding Wet bescherming bedrijfsgeheimen

Short Reads - Op 23 oktober 2018 is de Wet bescherming bedrijfsgeheimen in werking getreden. Deze wet strekt tot implementatie van de Richtlijn bedrijfsgeheimen (2016/943/EU) en biedt houders van niet-openbaar gemaakte knowhow en bedrijfsinformatie (bedrijfsgeheimen) verschillende mogelijkheden om maatregelen te treffen tegen het onrechtmatig verkrijgen, gebruiken of openbaar maken van bedrijfsgeheimen.

Read more

11.02.2019 BE law
Raad van State versoepelt toegangsvereiste (actueel belang)

Articles - De algemene vergadering van de Raad van State heeft in zijn arrest van 15 januari 2019 de ontvankelijkheidsvoorwaarde van het actueel belang enigszins versoepeld. Dit is in navolging van de rechtspraak van het Europees Hof voor de Rechten van de Mens die de Raad van State reeds op dat punt terugfloot. In deze blog wordt een korte round-up gegeven van het belangvereiste en de recente ommezwaai in de rechtspraak hierover. Iedereen die ooit een beroep bij de Raad van State instelt, dient hiermee rekening te houden.

Read more

29.01.2019 NL law
Netherlands Commercial Court van start

Short Reads - Op 1 januari 2019 zijn op basis van de Wet Netherlands Commercial Court het Netherlands Commercial Court (NCC) en het Netherlands Commercial Court of Appeal (NCCA) van start gegaan. Bij het NCC kunnen internationale handelsgeschillen voor een gespecialiseerde overheidsrechter worden beslecht. Het NCC biedt procespartijen de mogelijkheid om in het Engels te procederen.

Read more

Our website uses cookies: third party analytics cookies to best adapt our website to your needs & cookies to enable social media functionalities. For more information on the use of cookies, please check our Privacy and Cookie Policy. Please note that you can change your cookie opt-ins at any time via your browser settings.

Privacy – en cookieverklaring