No money for a large portion of Codema creditors

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Provisional trustee forecast

At the current state of affairs, the expectation of the trustee in Codema’s bankruptcy is that only partial payment will be possible on highly preferential estate claims. As things stand, no payment can be made to lower ranked estate creditors and to preferential and unsecured creditors, he writes in a new recently published bankruptcy report.

All bankruptcies of the Codema group are being settled by the trustee as a single entity. A total of 375 unsecured creditors (1 more than in the last report) submitted claims totalling over €24 million (over €1.2 million more than in the last report).

A new report is expected at the end of September.

Mr C.F.W.A. Hamm of Borsboom & Hamm Advocaten of Rotterdam has been appointed as trustee. The bankruptcy of Codema Systems Group B.V. has been registered under number: 10.rot.22.91.F.1300.1.22. Codema EMEA B.V. and Codema Nederland B.V. were also declared bankrupt on 3 May 2022. On the causes of the bankruptcy, the trustee drew conclusions last summer.

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