What should you do if a customer goes bankrupt?
- Submit your debt claim to the clerk of the Commercial Court in time.
If a customer goes bankrupt and still has outstanding invoices, it is important to ensure that the claim is submitted to the clerk of the Commercial Court in good time.
- Report any transactions in the suspected period.
If you are aware that transactions took place in the suspected period, which may be declared null and void, you should best inform the court of this.
- Be aware that your customer may go bankrupt.
Be aware that if you conclude certain agreements with a customer that may go bankrupt, these may be declared null and void.
- Recover VAT on the claim.
- Record a depreciation in the accounts.
- Proceed with caution.
In a number of cases it may be interesting to have your debtor declared bankrupt. In that way the hole cannot be dug deeper. However do not do so without due consideration.