WILLEMSTAD – Vanddis BV filed for bankruptcy on Monday for the Curaçao-based family business Lovers Industrial Corporation. The petition has been submitted to the court, marking a new escalation in the long-running dispute surrounding the company.
According to Vanddis, the decision was taken after careful consideration. The company says it has spent recent years trying to safeguard the continuity of Lovers and preserve its operations. That effort has now become untenable following legal measures taken by minority shareholders Cindy and Oswald van der Dijs.
The two shareholders recently obtained a court order placing conservatory attachment on all bank accounts of Lovers Industrial Corporation. As a result, the company no longer has access to its own funds. The attachment is based on a monetary claim that Lovers disputes, but the measure has immediate operational consequences.
Vanddis states that, due to the account seizure, Lovers is no longer able to responsibly continue its day-to-day business operations. Without access to its bank accounts, the company is unable to meet financial obligations such as paying suppliers, staff, and other recurring expenses.
At the same time, Vanddis emphasizes that Lovers itself remains operationally healthy. After a number of difficult years, the company says it has developed a solid business model and relies on a dedicated workforce. However, the freezing of its accounts has effectively paralyzed the business, despite its underlying viability.
Vanddis describes the bankruptcy filing as the only remaining option to prevent further damage and uncertainty. The move is intended to provide clarity for employees, suppliers, and customers, while transferring oversight of the situation to a court-appointed trustee.
Although the company says it regrets the circumstances, Vanddis maintains that the decision was made out of a sense of responsibility. It has expressed hope that the bankruptcy trustee will investigate whether a restart or restructuring of Lovers Industrial Corporation remains possible.