{"id":10250,"date":"2024-02-05T13:39:51","date_gmt":"2024-02-05T12:39:51","guid":{"rendered":"https:\/\/www.everestnotariaat.com\/temporary-transparency-turboliquidation-act\/"},"modified":"2026-03-10T13:50:46","modified_gmt":"2026-03-10T13:50:46","slug":"temporary-transparency-turboliquidation-act","status":"publish","type":"post","link":"https:\/\/everestnotariaat.com\/en\/temporary-transparency-turboliquidation-act\/","title":{"rendered":"Temporary Transparency Turboliquidation Act"},"content":{"rendered":"<div class=\"et_d4_element et_pb_section et_pb_section_0  et_pb_css_mix_blend_mode et_section_regular et_block_section\" >\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t<div class=\"et_d4_element et_pb_row et_pb_row_0  et_pb_css_mix_blend_mode et_block_row\">\n\t\t\t\t<div class=\"et_d4_element et_pb_column_4_4 et_pb_column et_pb_column_0  et_pb_css_mix_blend_mode et-last-child et_block_column\">\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t<div class=\"et_pb_module et_d4_element et_pb_text et_pb_text_0  et_pb_text_align_left et_pb_bg_layout_light\">\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t<div class=\"et_pb_text_inner\"><p><em>On 15 November 2023, the Temporary Transparency Turboliquidation Act entered into force, and it brings significant changes to the way in which companies can be dissolved and liquidated. <\/em><\/p>\n<p><em>This blog explains how the Temporary Transparency Turboliquidation Act works and what the consequences are of the entry into force of this Act. <\/em><\/p><\/div>\n\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div><div class=\"et_d4_element et_pb_row et_pb_row_1  et_pb_css_mix_blend_mode et_block_row\">\n\t\t\t\t<div class=\"et_d4_element et_pb_column_1_2 et_pb_column et_pb_column_1  et_pb_css_mix_blend_mode et_block_column\">\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t<div class=\"et_pb_module et_d4_element et_pb_image et_pb_image_0\">\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t<span class=\"et_pb_image_wrap \"><img decoding=\"async\" src=\"https:\/\/www.everestnotariaat.com\/wp-content\/uploads\/2019\/04\/foto-blog-turboliquidatie-3.jpg\" alt=\"\" title=\"foto blog turboliquidatie 3\" \/><\/span>\n\t\t\t<\/div><div class=\"et_pb_module et_d4_element et_pb_text et_pb_text_1  et_pb_text_align_left et_pb_bg_layout_light\">\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t<div class=\"et_pb_text_inner\"><p><span style=\"color: #ff9900;\"><strong>What is turboliquidation? <\/strong><\/span><\/p>\n<p>Turboliquidation is a quick and self-initiated dissolution procedure for companies. The unique aspect of this is that it is possible without liquidation, provided that there are no assets left at the time of dissolution. As a result, a company can be deregistered directly from the Chamber of Commerce, without the intervention of a judge.<\/p>\n<p><strong><span style=\"color: #ff9900;\">Why the new legislation?<\/span><\/strong><\/p>\n<p>In practice, turboliquidation has proven to be vulnerable to abuse, especially when companies cease to exist with outstanding liabilities. The criticism mainly focused on the lack of control mechanisms regarding the position of creditors and accounting obligations. With the introduction of the Temporary Transparency Turboliquidation Act, an attempt is being made to address this criticism by increasing transparency.<\/p><\/div>\n\t\t\t<\/div>\n\t\t\t<\/div><div class=\"et_d4_element et_pb_column_1_2 et_pb_column et_pb_column_2  et_pb_css_mix_blend_mode et-last-child et_block_column\">\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t<div class=\"et_pb_module et_d4_element et_pb_text et_pb_text_2  et_pb_text_align_left et_pb_bg_layout_light\">\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t<div class=\"et_pb_text_inner\"><p><span style=\"color: #ff9900;\"><strong>Practical implications for entrepreneurs<\/strong><\/span><\/p>\n<p>Entrepreneurs who want to make use of the turboliquidation must be aware of the new requirements. Within fourteen days of dissolution, the board must file a balance sheet, a statement of income and expenses, and other relevant documentation with the Trade Register of the Chamber of Commerce. In addition, the board must notify any creditors in writing. Failure to comply with the accountability obligation is considered an economic offence.<\/p>\n<p><span style=\"color: #ff9900;\"><strong>Disqualification as a protection mechanism<\/strong><\/span><\/p>\n<p>An important aspect of the new law is the extension of the civil law prohibition on directors. This is intended to prevent fraudulent dissolutions without benefits and offers the possibility of imposing measures on directors who repeatedly abuse the turboliquidation.<\/p>\n<p><span style=\"color: #ff9900;\"><strong>A temporary arrangement<\/strong><\/span><\/p>\n<p>The Temporary Transparency Turboliquidation Act is introduced as a temporary two-year scheme with the possibility of extension. On July 5, 2023, the law was published in the Official Gazette, and from November 15, 2023, it was in force.<\/p>\n<p>We understand that these changes may raise questions for entrepreneurs. Our specialists are ready to advise and assist with the liquidation of your company. Feel free to <span style=\"text-decoration: underline;\"><span style=\"color: #3366ff;\"><a style=\"color: #3366ff; text-decoration: underline;\" href=\"http:\/\/www.everestnotariaat.com\/en\/contact\/\">contact<\/a><\/span><\/span> us for more information.<\/p><\/div>\n\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n","protected":false},"excerpt":{"rendered":"<p>This blog explains how the Temporary Transparency Turboliquidation Act works and what the consequences are of the entry into force of this Act.  <\/p>\n","protected":false},"author":5,"featured_media":10372,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"slim_seo":{"title":"Temporary Transparency Turboliquidation Act - Everest Notariaat","description":"This blog explains how the Temporary Transparency Turboliquidation Act works and what the consequences are of the entry into force of this Act."},"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[12],"tags":[],"class_list":["post-10250","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-geen-onderdeel-van-een-categorie"],"_links":{"self":[{"href":"https:\/\/everestnotariaat.com\/en\/wp-json\/wp\/v2\/posts\/10250","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/everestnotariaat.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/everestnotariaat.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/everestnotariaat.com\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/everestnotariaat.com\/en\/wp-json\/wp\/v2\/comments?post=10250"}],"version-history":[{"count":0,"href":"https:\/\/everestnotariaat.com\/en\/wp-json\/wp\/v2\/posts\/10250\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/everestnotariaat.com\/en\/wp-json\/wp\/v2\/media\/10372"}],"wp:attachment":[{"href":"https:\/\/everestnotariaat.com\/en\/wp-json\/wp\/v2\/media?parent=10250"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/everestnotariaat.com\/en\/wp-json\/wp\/v2\/categories?post=10250"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/everestnotariaat.com\/en\/wp-json\/wp\/v2\/tags?post=10250"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}