Debtor gone through turbo liquidation: what can you do as a creditor?

23 September 2026

Arslan Advocaten

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Debtor gone through turbo liquidation: what can you do as a creditor?

When a bv (private limited company) is wound up through turbo liquidation, an unpaid invoice does not automatically disappear. It does, however, become harder to recover what you are owed. First investigate whether there really were no assets, which financial documents have been filed and whether there are grounds for access to records, reopening of the liquidation, bankruptcy or a separate liability claim.

Nederlands: Lees dit artikel in het Nederlands: Debiteur verdwenen door turboliquidatie: wat kunt u als schuldeiser doen?

Türkçe: Bu makaleyi Türkçe okuyun: Borçlu turbo tasfiye ile ortadan kalktı: alacaklı olarak ne yapabilirsiniz?

Written by Onur Arslan, attorney at Arslan Advocaten. Registered in the specialisation register of the Netherlands Bar for employment law and personal injury. Last updated: 17 September 2026.

Turbo liquidation is, in itself, a statutory route for dissolving a company. It is not automatically fraud, and it does not in itself make a director personally liable. What matters are the conditions under which the legal entity ceased to exist and the specific acts that may have prejudiced a creditor.

This article is aimed at business owners with a claim against a dissolved Dutch legal entity, in particular a bv. A sole proprietorship or general partnership (vof) is not wound up through turbo liquidation in the same way. So first check the legal form and who your actual contracting party was.

What is turbo liquidation

If a legal entity has no assets at the time of its dissolution, it can cease to exist under Article 2:19(4) of the Dutch Civil Code (BW) without an ordinary liquidation phase. This is generally referred to as turbo liquidation. The absence of assets is the key condition; the absence of debts is not the same requirement.

There may therefore still be unpaid creditors. That does not in itself make the route unlawful. However, the applicable accountability and disclosure obligations must be complied with, and directors must not wrongfully prejudice creditors.

The Temporary Turbo Liquidation Transparency Act (Tijdelijke wet transparantie turboliquidatie) has been extended. According to the published extension decree, the expiry of the temporary scheme has been postponed until 15 November 2027. For any specific dissolution, you should check which rules applied on that date. An older explanation that assumes the scheme ended in November 2025 is therefore out of date.

What counts as assets

Assets are not just the balance in the bank account. Think also of stock, equipment and fittings, a refundable deposit, tax refunds, receivables from customers or other property rights. A business can have no money in its account and still own assets.

A potential claim against a director or third party may also be relevant in a legal assessment. That does not mean every unproven suspicion immediately amounts to an asset. You must set out with sufficient specificity what a claim would be based on and why it may be of value to the legal entity.

So investigate the situation around the resolution to dissolve. A photo of an empty shop taken months later says little about stock or payments received on the relevant date. The timeline matters more than a general impression that the business “still seemed to be trading as normal”.

What information should be available

Article 2:19b of the Dutch Civil Code sets out accountability obligations for the board. Within fourteen days of the dissolution, financial documents and a statement explaining the absence of assets, among other things, must be filed. The board must also explain what happened to any earlier assets and why creditors were left wholly or partly unpaid, where applicable.

In addition, annual accounts that have not yet been filed may have to be submitted if there was an obligation to do so. The board must then inform creditors in writing of the filing. Check the statutory content carefully; a deregistration from the Trade Register alone is not the complete file.

Request the filed documents and compare them with your own records. If documents are missing or an explanation does not seem to match known transactions, that is a signal to investigate further. It does not automatically prove that your entire claim can be recovered personally from the director.

Start with a complete file on your own claim

Before you investigate the dissolution, your own claim must be sufficiently clear. Gather the contract, invoices, proof of delivery and correspondence. Check whether the dissolved bv was actually your contracting party and whether the debt was acknowledged or disputed.

Draw up an overview of the principal sum, payments, interest and costs. Separate out any damages claims and substantiate them individually. A financially opaque counterparty does not release you from the obligation to make your own claim plausible.

Also keep any earlier assurances from the board about payment, assets or a restart. Record the date and context. A business promise made on behalf of the bv is not in itself a personal guarantee, but it may be relevant to establishing the facts.

Build an investigation timeline

Put at least the following events in chronological order: order, delivery, due date, payment requests, any sale of assets, resolution to dissolve, deregistration and communications to creditors. Attach the original supporting document to each event.

Compare the dissolution date with recent activity. Were new orders still being accepted, payments received or goods offered for sale? Who received the proceeds? Were assets sold to an affiliated company, and was an arm’s length price paid?

Use public sources and information you have obtained lawfully yourself. An active website, or the same director at a new company, is not in itself proof that assets were stripped. It may, however, give reason to ask targeted questions and examine the financial documents.

Can you request further access to records

Under certain conditions, the temporary scheme allows creditors to ask the court for authorisation to inspect the retained books and records. Article 2:24(4) of the Dutch Civil Code is relevant here. Failure to comply with the accountability obligation may play a role in that assessment.

This is not an unlimited right to every email, private bank account or all data of the persons involved. The request must fit the statutory conditions and its purpose. Discuss which specific information is missing and why you need it for your position.

Other evidential routes may also be relevant depending on the situation. The right route depends on who holds the data, the nature of the documents and any possible proceedings. A general letter demanding “send us your entire administration” is no substitute for that analysis.

Reopening of the liquidation

If an asset comes to light after the entity has ceased to exist, reopening of the liquidation under Article 2:23c of the Dutch Civil Code may come into consideration. The legal entity then revives for the purposes of the winding-up, to the extent necessary. The court assesses whether the conditions for reopening have been met.

A creditor must therefore identify as specifically as possible which asset there is said to be. That may be a customer receivable still to be collected or another sufficiently plausible claim. The mere existence of an unpaid debt does not mean that there is also an asset.

Reopening does not guarantee that you will be paid in full. It must first be established what can actually be realised and which other creditors or preferential rights exist. Weigh the cost of the procedure against the likely proceeds.

Can a dissolved bv still be declared bankrupt

In certain circumstances, a bankruptcy petition can be filed against a dissolved legal entity. The usual conditions for bankruptcy and the presence or plausibility of assets play a role. The mere existence of your single unpaid invoice is not sufficient for every bankruptcy petition.

Among other things, it must be examined whether the entity has ceased to pay its debts and whether there are multiple creditors. A supporting claim and the precise position of the dissolved legal entity require legal investigation. Do not use a bankruptcy petition as an automatic pressure tactic for a claim that is weak on the merits or disputed.

A bankruptcy trustee (curator) may have different investigative and recovery options than you have as an individual creditor. These must be weighed against costs, uncertainty and the ranking of creditors. See also bankruptcy of a contracting party.

When can a director be personally liable

Personal liability requires an independent legal basis. In external directors’ liability, the question is usually whether the director can personally be blamed to a sufficiently serious degree. Not every unpaid debt and not every administrative error meets that standard.

Specific circumstances may be relevant, such as entering into obligations when it was foreseeable that the bv would not be able to pay and would offer no recourse, or bringing about a situation in which recovery is wrongfully frustrated. Selective payments or transfers of assets also need to be assessed in their context; they are not all automatically unlawful.

Substantiate what the director knew, did and could foresee, and what loss you suffered as a result. The amount of damages is not necessarily always equal to every debt of the bv. For a different basis under insolvency law, read directors’ liability in bankruptcy.

A new company carrying on the same activities

A restart or new bv does not automatically make the new company liable for the old debt. Investigate whether assets were transferred, what consideration was paid and whether obligations were taken over. The same trade name, customers or director may be relevant, but is not in itself a complete legal basis.

Transfer of contract, guarantees and unlawful acts may also play a role in a specific case. Do not merge those routes into the general assertion that the new bv is “the same business” and must therefore pay. The legal entities and acts must be examined separately.

Keep advertisements, correspondence and information about the transition, noting the date and source. Then have it determined what further evidence is needed. A carefully substantiated claim is stronger than a broad accusation against everyone involved in the restart.

Sample request for information

This text is an initial request for clarification. It does not replace a formal application to the court, a letter holding a party liable or an act interrupting the limitation period where one is needed.

Subject: outstanding claim and turbo liquidation of [legal entity]

Our company has a claim of [amount] against [full name and Chamber of Commerce (KvK) number] arising from [agreement and invoices]. We understand that the legal entity was dissolved and ceased to exist on [date]. According to our records, the claim has not been paid.

We request that you inform us about the filing of the documents referred to in Article 2:19b of the Dutch Civil Code and the associated notice to creditors. We would also appreciate your explanation of [specific missing information or known transaction]. We enclose the relevant documents concerning our claim.

We reserve our rights and any legal remedies. We look forward to receiving your response, with a reference to the available documents, no later than [reasonable date]. This request does not constitute an acknowledgement that the dissolution or winding-up was legally valid and complete as regards us.

Adjust the tone to the available facts. Do not allege fraud or criminal offences unless you have a sufficient basis for doing so. A businesslike request for information can bring out the necessary facts without needlessly escalating the dispute.

Fictitious example of a forgotten asset

A supplier discovers that its debtor has been deregistered through turbo liquidation. Earlier correspondence shows that the debtor still had a substantial deposit with a landlord. The supplier does not know whether that deposit has been repaid, set off or can still be claimed.

That fact is a reason to investigate. The supplier requests the filed documents and asks targeted questions about the deposit. If an asset turns out to be sufficiently plausible, an application for reopening can be considered. If the deposit was rightly set off against another debt, the position may be different.

The example shows why a specific asset item helps more than the general suspicion that the director must have money. Here too, an eventual payout is not certain: other creditors, costs and the prospects of recovery remain relevant.

Time limits, costs and recovery

Keep monitoring the limitation period of your original claim and of any new liability claims. The disappearance of the legal entity does not make monitoring time limits unnecessary. Separate steps may be needed to interrupt the limitation period and to pursue different parties.

Ask for a cost estimate for requesting and reviewing documents, an application procedure and any follow-up investigation. Proceedings may confirm a claim without there being any actual recovery. So also have the financial feasibility examined.

Sometimes a limited information exercise is enough to decide that further litigation is not worthwhile. In other cases, a specific asset or demonstrable prejudice may justify further action. Base that decision on facts and costs, not solely on understandable frustration over an unpaid bill.

If you want to dissolve a legal entity yourself

Before dissolution, check whether there really are no assets and whether all ongoing obligations have been identified. Have the financial accounts, annual accounts and information for creditors prepared. A deregistration form is not the same as a complete winding-up plan.

Do not make selective distributions or transfers without considering the interests of creditors. Keep the books and records and document decisions together with their business reasons. Where there are structural payment problems, another route, including restructuring, ordinary liquidation or bankruptcy, may be more appropriate.

Through corporate law for business owners you can have us assess which options still exist after a turbo liquidation. Bring the Trade Register notice, the filed documents and your own contract and payment file. List any specific indications of assets or transactions separately.

Compare the Trade Register with your own documents

A current registration tells you who is formally registered, but does not by itself explain what happened to all the assets. So keep both the current extract and relevant historical data. Set the dissolution date against your deliveries, payments and earlier messages about financial difficulties.

Pay attention to differences between a trade name and the legal entity. A website may continue to use the same name after deregistration while another bv enters into contracts. That can be confusing, but does not in itself prove that your claim has been transferred. Check invoice details, bank account holders and the party name in new correspondence.

Then make your questions as specific as possible. For example, ask how a receivable mentioned in the last annual accounts was settled, rather than demanding that the director explain where all the money went. A clearly defined question makes the answer easier to verify.

If several creditors have information, coordinating with them can be useful. Only share data that you are lawfully permitted to disclose, and avoid spreading unproven accusations as established facts. A joint fact-finding exercise can help, but each creditor must continue to monitor its own claim, time limits and procedural position.

Frequently asked questions

Can a bv be dissolved while it still has debts?

With turbo liquidation this is possible if there are no assets at the time of dissolution and the applicable rules are complied with. Outstanding debts do not automatically make the route unlawful. Wrongful prejudice to creditors and disclosure obligations do remain relevant.

Is the director automatically liable for my invoice?

No. Personal liability requires an independent legal basis and specific substantiation. Non-payment by the bv or the use of turbo liquidation is not sufficient in itself. Examine conduct, culpability, loss and the causal link.

What can I do if financial documents are missing?

First request the available filings and the notice to creditors. Under certain conditions, a court authorisation to inspect the retained books and records can be explored. Missing documents may be relevant, but do not automatically prove your full damages claim.

Can the liquidation be reopened?

Yes, under certain conditions, for example if an asset comes to light after all. Specify which asset item or claim is involved. Reopening does not automatically mean full payment; costs and the position of other creditors remain important.

Does the temporary transparency scheme still apply in 2026?

Yes, the published extension decree postpones its expiry until 15 November 2027. For any specific dissolution, always check the law in force at that time and any further amendments. An explanation that treats November 2025 as the end date is out of date.

Does the new bv of the same business owner have to pay?

Not merely because the same person is director or the same activities are carried on. Investigate obligations taken over, transactions, guarantees and any wrongful prejudice to creditors. The new and old legal entities are not automatically the same party in law.