Contributed By Florent (Amsterdam - HQ)
The bankruptcy trustee, as well as individual creditors, may assert direct fiduciary breach claims against the directors. According to case law, legal proceedings initiated by the bankruptcy trustee take priority in the event that both the bankruptcy trustee and an individual creditor start legal proceedings against a director based on the same facts. After these proceedings, the individual creditor may receive a payment out of the bankrupt estate and, in the case of remaining damages, may assert claims for such remaining damages directly against the director. The bankruptcy trustee is only entitled to pursue a claim on behalf of the entire body of creditors and not on behalf of a (specific) group of creditors.