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The European Insolvency Regulation has been in force since 1 May 2002. These European rules provide important rules for bankruptcy proceedings, which you will not find in Dutch bankruptcy law. To understand bankruptcy law, you must also be aware of the EU Insolvency Regulation. What are the main points of this regulation? The purpose of the regulation The purpose of the Insolvency Regulation is to determine which court of which country has jurisdiction to hear [...]
If a bankruptcy has been declared, the bankruptcy trustee will investigate remarkable legal acts performed in the run-up to the bankruptcy. Equality of creditors One of the basic principles of bankruptcy law is that creditors are treated equally. This is usually referred to by the Latin term “paritas creditorum”: equality of creditors. The only exception to this is that the law assigns a different ranking to creditors when paying out the proceeds of the bankruptcy. [...]
If you have been declared bankrupt and you do not agree with this, you can lodge an appeal or opposition. What is resistance? Objection is a legal procedure before a court to reverse a bankruptcy order. An appeal can be lodged if the person or company/institution declared bankrupt has not appeared and has not responded to the case (legally: if the judgment was pronounced in absentia). What is an appeal? An appeal is a legal [...]