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Van der Moolen Holding files for bankruptcy

Published on 10 Sep 2009 under category: legal

A Dutch brokerage has filed for bankruptcy in the Court of Amsterdam.

Van der Moolen Holding NV has taken this action, after having previously filed for court protection from its creditors.

It was revealed that the company had been unable to meet financial commitments such as making salary payments to its staff for the month, bankruptcy solicitors may be interested to hear.

Administrators at the firm applied to have the application of protection, which was granted on August 10th, to be turned into bankruptcy.

The request is expected to be rubber stamped today (September 10th) after it emerged that selling off parts of the company would be unlikely to allow it to continue to operate as a smaller business.

Earlier this week, Livingston Football Club failed in its appeal against the punishment of relegation that it has received for entering administration.

The Scottish Football Association deemed that this constituted a breach of its insolvency regulations.

If you require advice on Insolvency and Bankruptcy please call us on +44 (0)20 7831 0101 and ask for Katherine Sillett.