Our lawyers are regularly appointed by the Court to act as a receiver and/or administrator and are therefore extremely well acquainted with insolvency law and other legislation and regulations. This is also of importance in cases where they are not acting as receiver or administrator. These vary from issues related to financing by banks, securities and the liabilities of directors and officers to the fiscal attachment of the company’s property on the premises.
It is especially important that our lawyers know their way around this environment, which can be a minefield for other advisors.
Helping companies in difficulties, their directors, shareholders and those purchasing their assets
Thanks to our expertise, our services are regularly engaged by companies in difficulty. We can act either on behalf of the company or on behalf of directors and/or shareholders. The high level of tension just before an insolvency often leads to pressures which can induce the parties involved to make concessions. This can mean the difference between surviving and going under. In the event of a survival scenario, jobs and the obvious advantages of running a going concern can often be saved. If this proves not to be possible, we can advise on which insolvency measures would be most appropriate and would contribute most to minimizing the damage.
In addition to the above, we are often engaged to help those buyers who are interested in acquiring the assets of a company in difficulties, either before or during the bankruptcy. This experience can be invaluable when we act as a receiver or administrator in other situations.
If it proves to be necessary to go as far as litigation, we regularly act on behalf of the directors of companies in difficulties who are being held to account, creditors – including suppliers – and other stakeholders.
Many of our clients, particularly those who are shareholders, must bear the cost of consultancy themselves. Because of this, we are accustomed to working for competitive rates and, in suitable cases, for a fixed fee. Due to the nature of the practice and the fact that no other form of security is permitted under the professional rules of the Netherlands Bar Association, it may be necessary to work on an advance payment basis.
Van den Herik & Verhulst Advocaten actively invests in both maximizing know-how and in the training of our lawyers. In addition to their law degree, many of our lawyers have also followed external courses, such as the intensive Grotius courses in insolvency law and Financing and Securities.