TITLE 1 BANKRUPTCY
Chapter 8 Legal Position of the Debtor after the
Termination of the Winding-up
Article 195 Creditors regain their right of foreclosure after the final
distribution plan has become binding
After the final distribution plan has become binding, the creditors regain
their rights of foreclosure (execution) on the assets of the debtor to
the extent that their claims have remained unpaid.
Article 196 Admitted claims are immediately enforceable after the end
of the bankruptcy
The admission of a claim in accordance with Article 121, paragraph 4,
shall have as resultthat this claim is enforceable immediately against
the debtor to the extent that it has remained unpaid; the official record
of the verification meeting constitutes an executorial title against the
debtor for the admitted claims mentioned in that official record.
Article 197 The previous Article does not apply to claims that have been
disputed by the debtor
The provisions of the preceding Article shall not apply if and to the
extent that a claim has been disputed by the bankrupt debtor in accordance
with Article 126.
Chapter 9 [repealed on 01-01-2003]
Article 198 [repealed on 01-01-2003]
Article 199 [repealed on 01-01-2003]
Article 200 [repealed on 01-01-2003]
Article 201 [repealed on 01-01-2003]
Article 202 [repealed on 01-01-2003]
Chapter 10 Provisions of International Law
Article 203 Recovery of unsecured claims from assets abroad during bankruptcy
A creditor who, after the declaration of bankruptcy, has recovered his
claim separately, either in full or in part, from assets situated abroad
of a debtor declared bankrupt in the Netherlands, to which assets no priority
ranking (right of preference) was attached in his favour, must pay the
amount so recovered into the liquidation estate.
Article 204 Transfer of a claim with the purpose to recover it from assets
- 1. A creditor who transfers (assigns) his
claim against the bankrupt debtor, either in full or in part, to a third
party in order to enable this third party to recover the claim, either
in full or in part, separately or with priority (preference), from assets
of the bankrupt debtor situated abroad, must pay the amount so recovered
into the liquidation estate.
- 2. Unless the contrary has been proven, the
transfer (assignment) is deemed to have been effected with the purpose
mentioned in the previous paragraph, if it was known to the parties that
an application for bankruptcy had been made or would be made.
Article 205 Transfer of a claim or debt to enable a third person to make
an unpermitted set-off abroad
- 1. A creditor who transfers his claim or
his debt, either in full or in part, to a third party, who as a result
thereof is able to effectuate a set-off abroad which is not allowed under
the present Act, shall have a similar obligation to the liquidation estate
as referred to in the previous Article.
- 2. Paragraph 2 of the preceding Article shall
apply in that event.
Chapter 11 Rehabilitation
Article 206 Petition for the rehabilitation of the debtor
After the bankruptcy has ended in accordance with Article 161 or 193,
the debtor or his heirs may submit a petition for rehabilitation to the
District Court which adjudicated on the bankruptcy.
Article 207 Inadmissibility of the petition
The petition of the debtor or his heirs is inadmissible if no proof is
submitted at the same time from which shows that all admitted creditors
have been paid to the satisfaction of each of them.
Article 208 Publication of the petition
The petition shall be published in the Government Gazette.
Article 209 Objections of creditors against the petition
- 1. Each admitted creditor may file an objection
against the petition within two months after the required publication
by means of a reasoned notice of objection lodged with the office of the
clerk of the court; the clerk of the court shall issue a receipt to him.
- 2. The only possible ground for such an objection
is that Article 207 has not been duly performed by the petitioner.
Article 210 Decision of the District Court is to be rendered after two
After expiry of the period of two months referred to in the previous Article,
the District Court shall grant or reject the petition after having heard
the opinion of the Public Prosecution Service, regardless whether any
objections have been raised or not.
Article 211 No appeal nor an appeal in cassation available
No further appeal or appeal in cassation (appeal to the Supreme Court)
is available against the decision of the District Court.
Article 212 Judgment in open court; registration in the bankruptcy register
The judgment allowing the rehabilitation shall be pronounced in open court
and shall be recorded as well in the register referred to in Article 19.