On December 17, 2020, the Temporary Provision for Payment Deferral entered into force. This provision is part of the “Temporary COVID-19 SZW and JenV Act” and temporarily allows the courts to stay the processing of bankruptcy petitions and suspend other recovery actions, and grant a debtor a temporary payment moratorium. This regulation aims to prevent avoidable bankruptcies and avoidable recoveries from business owners who have temporary liquidity problems due to the COVID-19 virus outbreak. The scheme expires on February 1, 2021, but this date may be extended by royal decree.
Source:
- Publication entry into force Temporary provision for payment deferral
- publication Temporary law COVID-19 SZW and JenV’
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