3.


Safeguarding measures


According to Dutch law, a petition to the district court must be filed before starting legal proceedings, so it’s possible to seize assets from your debtor.


You are obliged to start legal proceedings within a fortnight after the date of the seizure, or it will be considered expired. Seizures will also expire if the debtor goes bankrupt.


Once you have a verdict, the seized assets can be liquidated by the bailiff. During the procedure, the debtor is not allowed to do anything with the seized assets.


Preservative seizure might also be considered if it’s known that a third party has to pay the debtor. It might be possible to go over to a seizure under this third party, meaning the third party is not allowed to pay the debtor to ensure the funds are available for the debtor’s creditors.


The debtor is also able to offer other means of security, such as mortgages and assignment of debts or assets, either through a contract or via a notary.


(End of chapter 3 - Safeguarding measures)

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