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ARTICLE · 01 JULY 2024

Draft Bill On Transfer Of Undertaking In Bankruptcy

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On 27 May 2024, the draft bill on transfer of undertaking in bankruptcy (in Dutch: Wetsvoorstel overgang van onderneming in faillissement, the WOVOF) was made available for internet consultation.

NetherlandsInsolvency/Bankruptcy/Re-Structuring
Kayleigh Bemelmans
Kayleigh Bemelmans
Roos Veldkamp
Roos Veldkamp

On 27 May 2024, the draft bill on transfer of undertaking in bankruptcy (in Dutch: Wetsvoorstel overgang van onderneming in faillissement, the WOVOF) was made available for internet consultation. The WOVOF aims to increase the protection of employees in case of bankruptcy, and more particular, in case of a restart (in Dutch: doorstart). The WOVOF introduces, amongst other things, an obligation for the acquirer in a restart to (in principle) offer employment to all employees from the bankrupt company. This and other measures will be discussed in detail in this this news blog.

Current regulation and background of the WOVOF

The WOVOF has a long history that can be summarised as follows.

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