voorkeursvordering

Voorkeursvordering is a Dutch legal term that translates to "preferential claim" or "priority claim" in English. It refers to a right of a creditor to be paid before other creditors from the proceeds of the debtor's assets. This priority is not inherent to all debts but is typically granted by law or by a specific agreement.

In the Dutch legal system, certain types of claims automatically have a preferential status. For example, claims related to taxes or social security contributions often enjoy a preferential right. Additionally, creditors who hold a security right, such as a mortgage on real estate or a pledge on movable property, have a preferential claim over the proceeds derived from the sale of that specific asset.

The concept of voorkeursvordering is crucial in insolvency proceedings, such as bankruptcy. When a debtor becomes insolvent, the available assets are distributed among the creditors. Preferential creditors are paid first from the proceeds of the relevant assets. If there are any remaining assets after satisfying the preferential claims, they are then distributed among the unsecured creditors, often on a pro-rata basis. The specific ranking and scope of preferential claims are detailed in Dutch law, primarily within the Civil Code and specific insolvency legislation. Understanding voorkeursvordering is essential for creditors to assess their recovery prospects and for debtors to understand their obligations.