Debt restructuring

If you own a company in the Netherlands that is experiencing difficulty in meeting its financial obligations, you may be eligible for voluntary or statutory debt restructuring.

Voluntary debt restructuring

You can organise voluntary debt restructuring if you as the entrepreneur are personally liable for your company’s debts and you are not able to pay them. This applies to the owners of one-man businesses, partners of a partnership and independent professionals, for example.

If this is the case, you can obtain help from a debt counsellor at the municipal money-lending and debt-counselling organisation (Gemeentelijke Kredietbank, GKB), social services or a specialist company. They will help you to reach an amicable agreement with your creditors in the form of a (voluntary) payment scheme.

Statutory debt restructuring

If you are unable to reach an amicable agreement with your creditors, you can request the district court in your place of residence to draw up a debt management scheme based on the Debt Management (Natural Persons) Act (Wet schuldsanering natuurlijke personen, Wsnp). The court will oblige your creditors to cooperate with this statutory debt restructuring. The court will also appoint an administrator who will help you manage your assets.