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Dutch Growers Co-op, FresQ, declared bankrupt

Dutch Growers Co-operative, FresQ, has been declared bankrupt. This was requested by their own Board. This happened after the court ruled last month that the withdrawal of approval is valid. This ruling means the growers organisation must repay millions of euros of CAP-subsidies.

Bankruptcy
Last year, the Dutch Government also requested that the organisation be declared bankrupt. The government has made significant progress regarding the repayment of the wrongly paid subsidies to the co-operative. "FresQ's Board opposed the ruling then, as there was no definitive ruling regarding FresQ's CAP status", says curator Bentfort van Valkenburg. "It was made final on 25 April, which is why the Board threw in the towel."

The repayment of the GMO subsidies are weighing heavily on the former members of the co-operative. It is not yet clear what is going to happen. "The money is being recovered from FresQ by the Government. At the moment I am studying what the future repercussions of this will be", says the curator.

He is getting insight into the ongoing procedures and business matters at the moment. "There are ongoing procedures regarding the repayment of the subsidies that are linked to the, now definitive, withdrawal of the CAP status. This is my first concern".

"Subsidies made from as far back as 1 July 2009 are being recovered. That is a great deal of money. Due to the expiry of deadlines, an urgent decision needs to be made whether to continue."