More protection for creditors in fast-track liquidations (turboliquidatie)

What has changed?

Are you a creditor to a company in financial trouble? If this company goes into fast-track liquidation (turboliquidatie), you now have more options to assess if your interests are harmed, and to act if they are. A fast-track liquidation is a dissolution of a company where no outstanding debts are paid.

The following has changed:

• The company board should present a final balance, and have it recorded, in which it explains why there are no funds left.
• The company has to open up its financial statements for inspection.
• The company board has to make sure the fast-track liquidation is announced publicly.
• The announcement should make clear that the final balance and the financial statements of the company can be viewed at the Netherlands Chamber of Commerce (KvK).

For whom?

• creditors
• companies going into fast-track liquidation

When?

The Temporary act transparency fast-track liquidation has entered into effect on 15 November 2023.