Trustees keep inviting payments through bankrupt on-line shops

By

Bankruptcy trustees often keep on-line shops running even though the companies behind them have gone bust, and therefore cannot deliver the goods.

Last week, Webwereld reported about at least three on-line stores that kept taking orders and payments even after they had gone bankrupt. Trade association ICTWaarborg had already sounded the alarm about this last year, but notices the problem continues unabated. According to the trade org, trustees in bankruptcies should shut down the on-line stores as part of their jobs.

In the Netherlands, the trustee in bankruptcy is the one who gets their salary by skimming the property off the top, and is often a lawyer appointed by their law school buddy, the judge. As you can see, absolutely no conflict of interest could possibly take place there.

From what I understand, people can only get money back from a trustee (curator in Dutch) when there has been an ‘undeniable mistake‘. The article I link to tells of a case where somebody wanted to wire money to party A, but accidentally wired it to party B who had just been declared bankrupt. That is considered an undeniable mistake, because the party making the payment had never intended to pay the bankrupt party.

No Comments »

No comments yet.

RSS feed for comments on this post. TrackBack URL

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.