If your company is in dire straits and you are no longer able to meet your financial obligations, the problems can quickly accumulate. Your creditors want you to meet your obligations and pay the invoices. If necessary, creditors can seize or file for bankruptcy. The nightmare of every entrepreneur. TLC Lawyers specialises in bankruptcy law and can help you arrange things as favorably as possible.
Examples of subjects in which you can help:
If the company, of which you are a director, goes bankrupt, you will have to deal with a receiver. The trustee initially looks after the interests of the creditors and will investigate the accounts and whether you, as a director, have performed your duties properly.
If the trustee is of the opinion that you, as a director, have not fulfilled your (accounting) obligations, the trustee can, among other things, hold you responsible for the bankruptcy and hold you (privately) liable for the deficit. This may have far-reaching consequences for you.
One step further is suspicion of bankruptcy fraud. If the trustee is of the opinion that this is the case, the trustee can also report this to the Public Prosecutor’s Office.
If you are suspected of bankruptcy fraud and the Public Prosecutor’s Office will pick up the trustee’s report and conduct its own investigation, this can have very unpleasant consequences for you. In such a procedure it is important to have a specialist in both bankruptcy law and criminal law assist you, so that you can be well advised on all points and your interests are well represented.
Your starting point will of course be to prevent you or your company from being involved in a criminal investigation. TLC Lawyers also advises you on how to prevent criminal liability.
The Tax and Customs Administration can hold a (former) director of a company liable for unpaid (tax) debts.
The consequences of such a liability can be enormous. The Tax and Customs Administration can make use of various possibilities to proceed to recovery. The procedure pursuant to the Dutch Collection of State Taxes Act is a well-known one, but a civil liability procedure is also a well-known procedure in which TLC Lawyers can assist you.
A personal liability (BV and NV) may be involved if failure to pay tax is due to improper administration. The Supreme Court has ruled that improper management would be involved if no other director with a reasonable mind would have acted in the same way in comparative circumstances. The burden of proof in this case lies with the Dutch Revenue. Mismanagement by fellow directors can in principle be attributed to you.
In case of tax debt in joint ventures (VOF, partnership and CV) there is no need for improper management. In those cases, a director or partner will have to prove that it is not his fault that the tax has not been paid.
More topics regarding board liability where we can support you;
If you recognize yourself in one of these possible liabilities, we advise you to call in the expert help of TLC Lawyers. The consequences of a personal liability can be very large.