Strengthening the Position of Trustee Act recently enacted: however, funding for fraud investigations still leaves much to be desired
Date: July 25, 2017
Modified November 14, 2023
Written by: Reinier Pijls
Reading time: +/- 2 minutes
Date: July 25, 2017
Modified November 14, 2023
Written by: Reinier Pijls
Reading time: +/- 2 minutes
One of our corporate law specialists Reinier Pijls was interviewed by Mr. Online about the Strengthening the Position of Trustee Act, which came into effect July 1, 2017.
The bankruptcy trustees in our country are negative about the Act to Strengthen the Position of Trustees, which came into effect July 1. There is hardly any question of strengthening their position, but an additional task has been added: the detection of fraud. To make that possible, the receivers need an additional €10 million. An investment that will earn the state fivefold.
The new law seems like a groundbreaking change, but it is not. It mainly legislates a lot of standing practice. However, this does provide clarity and can therefore be useful to practitioners. That we as trustees must explicitly detect and report frauds is new, though.
Read the entire interview here.
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