Dutch insolvency law has undergone significant change. Amendments to the Netherlands' insolvency legislation. building on earlier reforms that introduced the restructuring plan regime. have now refined the rules governing creditor participation. Proof of debt procedures. Additionally, the powers of the curator (insolvency administrator). International companies with Dutch counterparties or subsidiaries need to act promptly. Failing to register claims correctly or missing the creditors meeting deadline can result in permanent loss of recovery rights.
The latest amendments to Dutch insolvency legislation took effect in early 2025, modifying how creditors assert and rank their claims in both bankruptcy and restructuring proceedings before the Rechtbank (Dutch district court). Foreign creditors must now submit proof of debt through an updated procedure within the deadline set by the appointed administrator or liquidator. Companies incorporated as a besloten vennootschap (BV) or naamloze vennootschap (NV) that are subject to insolvency proceedings are directly affected by the new rules.
This alert explains what changed, which businesses are affected, and the five immediate steps international companies should take now.
What changed – the core amendments and their effective date
Dutch insolvency legislation has long operated on a dual track: bankruptcy (faillissement) for liquidation, and a separate restructuring regime introduced to implement the EU Restructuring Directive. The 2025 amendments consolidate and refine both tracks. The changes became effective at the start of 2025 and apply to all insolvency proceedings opened on or after that date.
The key substantive changes cover three areas.
Creditor claim verification. The updated rules tighten the proof of debt process. Creditors must now submit claims in a specified format to the administrator within the period published in the Kamer van Koophandel (KvK – Dutch Chamber of Commerce) insolvency register. The administrator has expanded authority to provisionally reject claims pending further documentation. A rejected creditor has a short window – typically a matter of weeks – to challenge the decision before the Rechtbank.
Restructuring plan approval thresholds. Under the revised restructuring plan regime, the voting mechanics at the creditors meeting have been adjusted. Affected classes must vote separately. A plan can be confirmed by the court even where a dissenting class objects, provided prescribed cramdown conditions are met. Secured creditors retain priority protection, but the threshold for cross-class confirmation has been clarified to reduce uncertainty that practitioners had identified in earlier case law of the Hoge Raad (Supreme Court of the Netherlands).
Administrator and liquidator duties. The amended legislation imposes stricter reporting obligations on the administrator and liquidator. They must now publish progress reports at defined intervals. Creditors gain a clearer right to request information between creditors meetings. These procedural changes mirror developments in comparable EU jurisdictions and reflect Hoge Raad guidance on transparency in insolvency proceedings.
For companies that registered security interests or obtained judgments against Dutch entities before 2025, the transition provisions are critical. Claims and security rights arising before the effective date are generally preserved, but the procedural rules for enforcing them in post-2025 proceedings follow the new regime.
Who is affected – threshold criteria and business categories
The amendments apply to any creditor or debtor involved in Dutch insolvency proceedings opened from 2025 onward. In practice, the following categories face the most material exposure.
Foreign creditors of Dutch BV and NV entities. Suppliers, lenders, and service providers holding claims against Dutch companies incorporated as a BV or NV must comply with the updated proof of debt requirements. Many international creditors underestimate the short deadlines. Missing the submission window extinguishes ranking rights in the distribution.
Group companies with Dutch subsidiaries. Multinational groups that have extended intercompany loans or guaranteed obligations to Dutch subsidiaries need to verify how those claims are classified under the new rules. Subordinated intercompany claims face specific treatment in a restructuring plan vote.
Secured lenders and financial institutions. Banks and alternative lenders holding pledge or mortgage security over Dutch assets must review whether their enforcement rights are affected by the administrator's extended powers. Under the amended insolvency legislation, the administrator can apply for a short stay on enforcement to facilitate a restructuring plan – a tool that can delay realisation of security for several months.
Trade creditors in ongoing supply relationships. Where a Dutch counterparty has entered preliminary insolvency proceedings. Trade creditors face a binary choice: continuing supply risks accumulating unsecured claims, while terminating risks breaching contract terms that the administrator may seek to enforce. The new rules clarify the administrator's position on executory contracts.
Engaging a specialist in insolvency and restructuring in the Netherlands as soon as a Dutch counterparty shows signs of financial distress gives creditors the best chance of protecting their position before proceedings formally open.
To receive an expert assessment of your creditor position under the amended Dutch insolvency rules, contact us at info@ferrazwhitmore.com.
What to do now – five immediate actions for international companies
The following steps apply to any international business with existing or potential exposure to Dutch insolvency proceedings.
1. Audit existing Dutch counterparty exposure. Identify all Dutch BV and NV entities in your receivables, loan books, and supply chains. Cross-reference each against the KvK insolvency register. The register is publicly accessible and updated in near real-time when proceedings open. Early identification is the single most effective risk mitigation step.
2. Review and update proof of debt documentation. Gather supporting documents for each claim: contracts, invoices, account statements, security agreements, and any notaris (civil-law notary) deeds that evidence pledge or mortgage rights. Under the updated procedure, the administrator can reject claims that are insufficiently documented. Preparing a complete file in advance prevents last-minute gaps.
3. Verify registration of security interests. Dutch law requires that certain security interests – notably rights of pledge over registered assets – be correctly registered to be enforceable in insolvency. Confirm that all security created before 2025 is properly recorded. Any defect in registration can reduce a secured claim to an unsecured one in the distribution.
4. Monitor the creditors meeting schedule. Once proceedings open, the administrator will convene a creditors meeting at which creditors verify claims and vote on key decisions. Missing this meeting does not automatically bar recovery, but it limits the ability to contest decisions or influence the restructuring plan. Assign a representative – or instruct Dutch counsel – to attend and file objections where needed.
5. Assess corporate dispute options for contested claims. Where the administrator disputes a claim or proposes a restructuring plan that impairs your rights, Dutch insolvency legislation provides specific challenge mechanisms before the Rechtbank. Time limits are short – often 14 days from notification. International creditors frequently miss these windows because communications from the administrator arrive in Dutch. Companies facing related corporate disputes in the Netherlands should also consider whether parallel claims exist outside the insolvency estate.
For context on how comparable amendments have affected creditor positions in neighbouring jurisdictions, the alert on insolvency law amendments in Portugal sets out a useful comparative reference point for groups operating across multiple European markets.
About Ferraz & Whitmore
Ferraz & Whitmore is an international law firm based in Lisbon, advising business clients across 46 jurisdictions. Our insolvency and restructuring practice covers Dutch, Portuguese, and broader EU insolvency proceedings, supporting creditors, administrators, and distressed companies from the first signs of financial difficulty through to distribution or plan confirmation. We work with international lenders, trade creditors, and corporate groups who need results-oriented counsel across civil law systems. Our attorneys have advised on cross-border insolvency proceedings involving BV and NV entities before the Rechtbank and have experience with restructuring plan confirmation procedures under both Dutch and Portuguese insolvency legislation. As a law firm in the Netherlands and Portugal, Ferraz & Whitmore bridges two legal traditions to deliver practical advice to international companies navigating European insolvency regimes. To discuss your creditor position or restructuring exposure, contact us at info@ferrazwhitmore.com.
Disclaimer: This publication is provided for informational purposes only and does not constitute legal advice. The information herein should not be relied upon as a substitute for professional legal counsel tailored to your specific circumstances. Ferraz & Whitmore assumes no liability for actions taken or not taken based on the contents of this material. For advice regarding your particular situation, please contact info@ferrazwhitmore.com.