Strategy to face Surseance van betaling
Surrseance van betaling which in english version is called Suspension of Payment of Debt had been known since 1848. In the US it is enacted into Chapter XI.
Surseance van betaling can be filed either by creditors (more than one) or by the debitor it self. The rule is that there must exist at least 2 creditors and one of the debts has been due and payable.
The debts must be summary in nature and the petition is to Commercial. Court but in Europe, USA or even in Spore the conditions to be met is not only exisstence of at least 2 creditors
In Spore, minimum debt is 15.000 Sin Dollar. In Germany, 750 Deutch mark. And the petition is not umder Commercial Court.
In Surseance van Betaling or we call it PKPU, the Administrator shall summon all creditors to file and prove the bases of their claim for the Administrator to review. The Administrator shall verify all of the bases of the claim.
