On July 5, 2022, a bill was introduced in The Netherlands to make a turboliquidation more difficult for the duration of two years. The effective date of this bill is still unclear. The temporary law is introduced in connection with the expected increase in the number of dissolutions as a result of the end of the Covid measures.
What will change is that also in the case of a turboliquidation a number of documents must be made public within 14 days after dissolution: the financial statements and the accounts of the liquidation. The cause of the lack of positive equity (sharecapital plus reserves) must also be explained. In addition, creditors must be informed of the liquidation in writing. In fact, this liquidation will become very similar to the normal liquidation procedure in terms of activities, only the deadlines and procedures are different.
The sanction for not meeting the requirements, as a result of which creditors have remained unpaid, may be that the court imposes an administrative ban on the director.
If you were planning to liquidate the B.V. anyway, it may therefore be useful not to wait too long.
