Leiden University has published a research report on the working of the Temporary Act on the Transparency of Fast-track Liquidation in the Netherlands. The Act aimed to facilitate faster and more transparent business termination. Has this been achieved?
Fast-track liquidation is the term for the rapid procedure for the dissolution and termination of a legal entity that no longer has any assets. It is in the interest of entrepreneurs that their business can be terminated in a straightforward manner through fast-track liquidation. At the same time, creditors value a transparent procedure to ensure they are not unfairly disadvantaged during the process.
The Temporary Act on the Transparency of Fast-track Liquidation was introduced in…