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Government information for entrepreneurs

Ways to end a bankruptcy

This information is provided by

Netherlands Chamber of Commerce, KVK

A bankruptcy can end in several ways. You may reach an agreement with your creditors; or you may have paid off your debts.

When does your bankruptcy end?

  • The bankruptcy is unjustified

    If you can prove before the magistrate’s court that there are insufficient grounds for a bankruptcy, the petition for bankruptcy will be declared invalid.
  • You no longer have debts

    If you have paid off all your debts, the bankruptcy ends.
  • You have too few possessions (insufficient means)

    If you do not have enough possessions to pay the bankruptcy costs, for instance the curator’s salary, the bankruptcy ends due to insufficient means (‘gebrek aan baten’).
  • You have reached an agreement with your creditors

    The bankruptcy ends if you reach an agreement with your creditors. Usually, you agree to pay part of the debt, in exchange for a full remission. In other words, you won’t have to pay the rest of your debts. The court has to approve the agreement; this is called homologation.

Distribution plan

In case of a bankruptcy ending in an agreement with the creditors, the curator will draw up the ranking of creditors and a distribution list. Creditors can appeal against this distribution list for 10 days. If they don’t, the distribution list is settled and the bankruptcy ends.
  • You have not reached an agreement with your creditors (insolvency)

    You fail to reach an agreement with your creditors. The court will rule insolvency. The curator will sell your assets, and divide the revenue amongst the creditors. Whether or not your personal belongings are also sold depends on the business structure of your company.
  • You can participate in legal debt restructuring

    If you are admitted to the Debt Restructuring for natural persons Act (Wet schuldsanering natuurlijke personen, Wsnp), your bankruptcy ends. This act only applies to natural persons (business structures without legal personality), who are personally liable for their company debts.

Questions relating to this article?

Please contact the Netherlands Chamber of Commerce, KVK

This information is provided by

Netherlands Chamber of Commerce, KVK