Michelle Sangers, 13 May 2025

Blog series: the legal positions of limited liability corporate bodies in times of financial hardship

When a private limited company runs into financial difficulties, a common question is: what does this mean for me? In this blog series, we discuss the legal positions of the corporate bodies and the works council in the private limited company and the (prospective) liquidator in a pre-pack, WHOA proceedings and a restart in bankruptcy.

This blog series covers the following blogs:

I. Introduction

1. The pre-pack in the Netherlands;
2. The WHOA;
3. The restart in bankruptcy: the Dutch Scheme of Arrangement, and the share and asset transaction in bankruptcy;
4. Who does what at a private limited company in financial difficulties?

II. The legal status of the management board and supervisory board

1. in the pre-pack;
2. under the WHOA;
3. to the bankruptcy agreement (faillissementsakkoord);
4. in the share transaction in bankruptcy;
5. in the asset transaction in bankruptcy;
6. the legal position of the (prospective) receiver vis-à-vis the management and supervisory boards;

III. The legal status of the shareholders (meeting)

1. at the pre-pack;
2. at WHOA;
3. to the bankruptcy agreement (faillissementsakkoord);
4. in the share transaction in bankruptcy;
5. in the asset transaction in bankruptcy;
6. the legal position of the (prospective) receiver vis-à-vis the shareholders (meeting);

IV. The legal status of the works council

1. at the pre-pack;
2. at WHOA;
3. to the bankruptcy agreement (faillissementsakkoord);
4. in the share transaction in bankruptcy;
5. in the asset transaction in bankruptcy;
6. The legal position of the (prospective) receiver vis-à-vis the works council.

If you cannot wait for a specific topic to be discussed in this blog series, feel free to contact us. We will be happy to advise you.

Stel uw vraag!

Any questions?

Michelle Sangers

+31 20 5313049

sangers@wieringa.nl

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