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Directors held liable for VAT debt when establishing second mortgage

  • BV A was part of a group and its subsidiary BV B was involved in a real estate project.
  • BV B purchased two properties and took out a bank mortgage of €4,750,000.
  • The municipality changed the zoning plan, preventing the development of the project and reducing the value of the properties.
  • BV B stopped making payments on the mortgage.
  • Mr. X was already involved in the project due to his role in other companies within the group.
  • The bank was willing to continue the credit if certain conditions were met.
  • The source of the information is a court ruling from the Zeeland-West-Brabant region.
  • The relevant law is article 36a of the Invorderingswet 1990.

Source: futd.nl

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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