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On 2 September 2016, the Limburg District Court, location Roermond, declared Componenta BV (“Componenta”) bankrupt on its own petition.

The District Court has appointed Mr P.M.C. (Peter) Brouns of Boels Zanders Advocaten as bankruptcy trustee.

1. What does the bankruptcy mean for me as supplier?
A bankruptcy is a legal procedure which can be pronounced by the District Court if a company cannot meet its payment obligations. The District Court then appoints a bankruptcy trustee whose task, among other things, is to convert the entire assets of the bankrupt company into cash (in other words: to sell them) and to divide the proceeds among the creditors.

Due to the bankruptcy, you can in principle no longer enforce payment from Componenta. If you have levied an attachment for your claim on property belonging to Componenta, this attachment will has ceased to have effect by operation of law. If legal proceedings are pending against Componenta to obtain payment, then these proceedings are suspended by operation of law.

2. Will my outstanding claims/invoices be paid?
Unfortunately, your outstanding claims/invoices can currently not be paid by Componenta. [**check spelling source text] It is also uncertain whether your outstanding claims/invoices can ultimately be paid (in full).
In general, on payment of claims, the principle of equality of creditors applies: all creditors are paid proportionally, unless there is a question of priority.

3. Should I file my claim with the bankruptcy trustee?
Yes, during the bankruptcy you must file your claim with the bankruptcy trustee. You can do so by using the portal made available for this. You can find the portal on the website of the bankruptcy trustee.

4. I have supplied goods subject to retention of title.  Can I collect these goods?
If there is a legally valid retention of title, one or more collection days will be arranged in consultation with the bankruptcy receiver on which you may collect your property. To ensure that the goods are returned properly, the bankruptcy trustee will not allow property to be collected at different times. If the bankruptcy trustee wishes to use your property for the continuation of the company, he will make arrangements with you.

In consultation with the bankruptcy trustee, it is possible to identify and list which of your goods are at the disposal of Componenta. The bankruptcy trustee will arrange for this. If you wish to identify and list which of your goods are at the disposal of Componenta, you must report this to the bankruptcy trustee, who will then keep you informed about your options.

Please ensure that you inform the bankruptcy trustee of the goods supplied by you as soon as possible. This must be accompanied by proof of your ownership right. For example, invoices, order confirmations, sales agreements, general terms and conditions, etc.

5. Will ongoing orders be settled?
In the coming period, the bankruptcy trustee will assess whether he can and wishes to settle ongoing orders. This depends on various factors. The bankruptcy trustee will contact you about this. Incidentally, the board and staff of Componenta [**check spelling source] are not entitled to enter into new obligations without the cooperation, authorization or assistance of the bankruptcy trustee.

6. Can I reclaim the VAT charged from the Tax and Customs Administration?
It must be stated first and foremost that the bankruptcy trustee cannot give advice in this respect. At this time, it is not certain whether your claim can be paid in part or in full. For this reason, the bankruptcy trustee, at this stage, will not provide you a written statement stating that your claim is uncollectible. You will be informed as soon as it becomes clear whether the bankruptcy trustee can make a payment to you based on the proceeds from the bankruptcy.