The reorganisation procedure aims to provide an opportunity for undertakings facing financial difficulties to continue their business and activities and is governed by the provisions in book XX of the Belgian Economic Law Code (“ELC”)
In the COVID-19 context and in light of the moratorium on bankruptcies ending on 31 January 2021, a new law has been adopted to further support enterprises facing financial difficulties.
The long-awaited new law amending Book XX of the Code of Economic Law and the Income Tax Code 1992 just came into force. This replaces the "COVID-moratorium" and creates the possibility to restructure a company through a “preparatory agreement”.
Réclamé depuis plusieurs mois par les praticiens, le législateur vient finalement de modifier le Code de droit Economique afin de compléter l’arsenal des outils à disposition des sociétés en difficultés pour opérer leur redressement.
The COVID-19 pandemic continues to have a significant impact on the global economy, as businesses worldwide face liquidity problems and related insolvency risks
End of March 2020, the Minister of Finance and the Belgian financial sector, through the Belgian financial sector federation (Febelfin) and in close cooperation with the National Bank of Belgium, put into place a temporary support package for businesses to deal with the economic fallout resulting from the COVID-19 pandemic
The temporary suspension measures that were applied during the "first wave" of the corona crisis have been reintroduced but only apply now to companies that had to close down further to the corona measures.
In onze e-flash van 8 januari 2021 informeerden wij u dat er (opnieuw) een automatisch moratorium van kracht was om Belgische ondernemingen te beschermen tegen betalingsmoeilijkheden als gevolg van de genomen corona-maatregelen.
Un nouveau moratoire automatique est entré en vigueur le 24 décembre 2020. Ce moratoire protège les entreprises belges confrontées à des difficultés de paiement en raison des mesures corona.
Belgium has recently adopted extra measures to combat the negative economic impact of Covid-19.
