The Dutch e-bike startup VanMoof is on the brink of bankruptcy. The Verge reports the company has entered a so-called suspension of payment proceeding, in which a court-appointed administrator helps to lead the company out of debt. All options are on the table.
Meaning Van Moof is also facing a possible sale. The procedure is often also the first step towards insolvency proceedings. Under Dutch law, the surseance van betaling process VanMoof just entered is typically granted for up to 18 months. Creditors cannot claim their debts during the said period, which ends once all creditors are paid, a final agreement with creditors is reached (private or judicial), or when the company is declared insolvent.
According to RTL Nieuws, the procedu…
Read the full article at: https://www.electrive.com/2023/07/13/vanmoof-could-face-insolvency-or-sale/