Wagevoe explained: what does the new dispute resolution mean for entrepreneurs?

Conflicts between shareholders or directors can completely paralyze a company. With the introduction of the Wagevoe (Act on adjustment of dispute resolution and clarification of admissibility requirements for inquiry proceedings), the legislator has modernized corporate law on important points. For entrepreneurs, this means more clarity, faster procedures and better opportunities to break through stalled collaborations.

Why was the Wagevoe introduced?

The old dispute resolution system was experienced in practice as cumbersome and inflexible. Procedures took a long time and offered insufficient room for customization. The Wagevoe was introduced to resolve shareholder disputes more effectively and to clarify access to the inquiry procedure at the Enterprise Chamber.

What has changed due to the Wagevoe?

The main improvements are:

• ✓ more room for customization by the court;
• ✓ possibility of ancillary provisions to protect the company;
• ✓ clarification of the admissibility requirements for the inquiry procedure;
• ✓ better alignment with the practice of SME companies.

What does this mean concretely for entrepreneurs?

For entrepreneurs, the Wagevoe means that they receive clarity about their legal position more quickly. Stalled collaborations no longer have to continue to exist out of fear of lengthy procedures.