Developments around the Turboliquidation

by | Sep 30, 2022

A 2015 Supreme Court ruling confirms the legal rule that a turbo liquidation can be applied to a BV that had no assets but had debts. However, this should be handled with caution as creditors who are disadvantaged as a result can reopen the Limited Company, file for bankruptcy or hold the board liable. The legislator and other bodies are considering legislation to eliminate any undesirable consequences of this. closely follows these developments. Contact one of our staff to explain your situation.

Turboliquidation and bankruptcy

So if there are no assets or assets but there are debts, you can apply a turbo liquidation but you will have to proceed with caution. If no solution can subsequently be found to repay the debts or make an arrangement, and there are several creditors, the BV will have to file for bankruptcy.

Please note that case law shows that if you file for bankruptcy for a BV that has no assets or possessions, you as the applicant may be held liable for the costs of the bankruptcy because you actually had to file for turboliquidation. The choice between filing your own bankruptcy or a turbo liquidation depends on the (expected) assets and the possibility of paying the costs of the bankruptcy (read here: the trustee’s salary). Contact one of our staff to explain your situation.

Meer weten?

Bent u op zoek naar meer informatie rondom het opheffen van een BV? Bekijk dan onze blog. Hier vindt u waardevolle informatie over het beëindigen van uw Besloten vennootschap of stichting.

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