Creditor’s agreement

Sometimes, businesses still encounter financial problems due to old debts.

But these businesses don’t always have to go bankrupt.

A good alternative

In these cases, a creditor’s agreement can offer a solution. A successful restructuring of the debts will enable the business to continue running and become profitable again. Although the creditors are only paid part of their claim, this method enables them to retain the client. Furthermore, in the case of a bankruptcy, creditors often end up with even less, since the liquidator must be paid first. Therefore these agreements can be a good solution for all parties involved.

How does this work?

In a creditor’s agreement, the debtor offers to pay all his creditors a certain percentage of the claim.

In principle a creditor’s agreement is no more than an agreement between the debtor and the creditors. If one or more creditors does not wish to cooperate it is not possible to create an agreement. The bill for the Continuity of Enterprises Act II is a bill which is aimed at providing a legal basis for these sorts of peremptory agreements.

How do you ensure a good chance of success?

Creditors will obviously never be happy when offered an agreement. It is often necessary to convince them to get them on board. In addition, it is important that the offer is better than bankruptcy.

Seeking advice is a good idea, both for the debtor who wants to offer an agreement and for a creditor who is asked to cooperate.

More information

GMW lawyers will be happy to help you with all your insolvency and restructuring issues. If you have any questions, please contact us directly using the enquiry form below or +31 (0)70 3615048. Our insolvency lawyers will be glad to support and advise you.

More insolvency and restructuring related topics >

Lawyers

Christiaan Mensink

Janine van den Bemt

Lucie Burggraaff

Martijn Dellebeke

Mechteld van Veen-Oudenaarden

Stephanie de Wit

Wouter de Veer

All lawyers

Are you looking for an insolvency lawyer in The Hague?

GMW lawyers will be happy to help you with all your insolvency and restructuring issues. Do you have a question? Feel free to contact us.

"*" indicates required fields

16 January 2023

Digital accounting records in a bankruptcy

The Trustee in Bankruptcy (Further Measures) Act (Wet versterking positie curator) came into force on 1 July 2017.

16 January 2023

Information about the bankruptcy of CamptooNL – January 2023

In the bankruptcy of CamptooNL B.V. (CamptooNL), the trustee has recently received many inquiries from users (renters and owners of campervan) of the online platform.

9 November 2022

Bankruptcy Camptoo Group: damage to campervan or caravan

The trustee receives many questions about damage to caravans and campervans. If you are a lessor and your tenant has caused damage to your campervan or caravan, or if are you a tenant and you have caused damage to the rented campervan or caravan, then please read this article carefully.

27 October 2022

Bankruptcy Camptoo-Groep

On 26 October 2022, the District Court of The Hague converted the moratorium of Deelit Ventures B.V., Deelit Ventures IP B.V. and Camptoo NL B.V. into bankruptcy.

22 August 2022

Compensation for a loss in value of shares

Reduction in the value of my shares: am I entitled to compensation?

17 August 2022

Ivory Towers

Subdistrict court judge mr. Ines Kukel handled a case three years ago in which I acted for Thijs Verhoeven, real estate entrepreneur.

6 June 2022

Liquidation by arrangement

What is liquidation by arrangement?

30 May 2022

Is a bank obliged to offer a business a checking account?

Having a bank account is necessary for a company in most cases.

11 March 2021

4 Ways to set up a business in the Netherlands

Concise information about the 4 most common types of business in the Netherlands and how to set up a sole proprietorship, general partnership, private company or foundation.