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"Dutch bankruptcy law is governed by the Dutch Bankruptcy Code (Faillissementswet). The code covers three separate legal proceedings. The first is the bankruptcy (Faillissement). The goal of the bankruptcy is the liquidation of the assets of the company. The bankruptcy applies to individuals and companies. The second legal proceeding in the Faillissementswet is the Surseance. The Surseance only applies to companies. Its goal is to reach an agreement with the creditors of the company. "－http://en.wikipedia.org/wiki/Bankruptcy#The_Netherlands (wiki)