To prevent companies from going bankrupt due to the Corona crisis, the government provided a temporary breathing space for struggling companies from April 24 to May 17. The measure means that any company that is struggling financially will enjoy an automatic suspension.
- your company cannot be declared bankrupt;
- current contracts cannot be terminated by default;
- no attachments can be made; and
- you are not required to file a bankruptcy petition if you find that your business is struggling financially.
A condition for this automatic suspension is that your company was not in a state of bankruptcy before March 18. In other words, the financial difficulties must have arisen due to the Corona crisis.
This measure is now extended in advance until June 17.