Are you considering dissolving a Dutch company in 2023? Please note that on 15 November 2023 the Fast-Track Liquidation Transparency (Temporary Amendment) Act (in Dutch: Tijdelijke wet transparantie turboliquidatie, or "Twtt" for short) will enter into force. This follows from the decision of 28 June 2023 that was published today in the Government Gazette (Dutch).
The key changes:
- strengthens accountability and disclosure requirements (Article 2:19b of the Dutch Civil Code (DCC) - new);
- amends the present rules on the imposition of director disqualification (Article 106a of the Bankruptcy Act (in Dutch: Faillissementswet, or "Fw" for short) and the possibility of imposing director disqualification (Article 2:19c DCC) in the event of repeat fast-track liquidations;
- expansion of the right of inspection for creditors (Article 2:24(4) DCC).
If you want to learn more about the Twtt, then check out our previous blog on this topic.
Any questions? Feel free to contact Rolf Everhardus or Thijs Hekman.
Are you considering dissolving a Dutch company in 2023? Please note that on 15 November 2023 the Fast-Track Liquidation Transparency (Temporary Amendment) Act (in Dutch: Tijdelijke wet transparantie turboliquidatie, or "Twtt" for short) will enter into force. This follows from the decision of 28 June 2023 that was published today in the Government Gazette (Dutch).
The key changes:
- strengthens accountability and disclosure requirements (Article 2:19b of the Dutch Civil Code (DCC) - new);
- amends the present rules on the imposition of director disqualification (Article 106a of the Bankruptcy Act (in Dutch: Faillissementswet, or "Fw" for short) and the possibility of imposing director disqualification (Article 2:19c DCC) in the event of repeat fast-track liquidations;
- expansion of the right of inspection for creditors (Article 2:24(4) DCC).
If you want to learn more about the Twtt, then check out our previous blog on this topic.
Any questions? Feel free to contact Rolf Everhardus or Thijs Hekman.