Insolvency and Restructuring


Insolvency | Back to the future with the Heiploeg ruling?

Insolvency | Back to the future with the Heiploeg ruling?
13/05/2022

After having almost killed the Belgian judicial restructuring procedure by transfer under judicial supervision (see our previous news on the topic), the European Court of Justice (“ECJ”) may have brought it back to life with the long-awaited Heiploeg ruling.

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Mr. Peter De Ryck

Two-tier board structure: liability of directors in case of bankruptcy
26/04/2022

Since the entry into force of the new Belgian Companies and Associations Code, a public limited company (NV/SA) has the possibility to install a two-tier governance structure, i.e. the supervisory board whose members are appointed by the shareholders 

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How the Belgian Cour de Cassation qualifies a director of a company as an “enterprise”

How the Belgian Cour de Cassation qualifies a director of a company as an “enterprise”
06/04/2022

Since the entry into force of the new Belgian Code of Economic Law (‘BCEL’) it is possible for a company director, in its personal capacity, to be qualified as an “enterprise” and consequently to be declared bankrupt.

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Debt-to-equity swaps in the context of reorganisation proceedings and the transposition of the EU Directive on preventive restructuring frameworks

Debt-to-equity swaps in the context of reorganisation proceedings and the transposition of the EU Directive on preventive restructuring frameworks
07/02/2022

When a company faces financial distress, concessions are to be made and decisions to be taken in view of its turnaround. In the ordinary course of business, the shareholders bear the entrepreneurial risks and have the ultimate decision-making power.

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The EU Recovery Prospectus: a useful tool?

The EU Recovery Prospectus: a useful tool?
17/01/2022

In February 2021, a new short-form prospectus was introduced in the EU regulatory framework aimed at supporting recovery from the business and financial impact of the COVID-19 crisis (Regulation 2021/337 of 16 February 2021 amending the Prospectus Regulation 2017/1129 of 14 June 2017)

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No automatic liability for directors who do not ring the alarm bell

No automatic liability for directors who do not ring the alarm bell
20/12/2021

On 16 September 2021, the Antwerp Court of Appeal ruled on the liability of the directors of a company that did not respect the so-called ‘alarm bell procedure’.

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Mr. Yves Lenders

Attention, la Chambre des entreprises en difficulté vous surveille !
19/08/2021

L'économie belge n'est pas non plus épargnée par la crise du Covid-19. On s'attend à ce qu'en 2021 et 2022, encore plus d'entreprises soient confrontées à des difficultés financières

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Mrs. Sophie Jacmain
Mrs. Sophie Jacmain

Insolvency: Cash Is king: New Rules Against Late Payment
20/07/2021

Late payment puts a substantial dent in companies’ cash flow and, ultimately, their continuity. In recent years, payment behavior between businesses (B2B), and between businesses and government authorities (B2G), has deteriorated. 

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Éviter la dissolution judiciaire de votre entreprise ? Faites le dépôt de vos comptes annuels à temps

Éviter la dissolution judiciaire de votre entreprise ? Faites le dépôt de vos comptes annuels à temps
01/07/2021

Le dépôt des comptes annuels est l'une des obligations légales les plus importantes pour les sociétés. En effet, à défaut du dépôt des comptes (dans le délai légal), la responsabilité des administrateurs peut être engagée.

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The Plessers saga has come to an end – Is this a breakthrough in the reform of the reorganisation procedure?

The Plessers saga has come to an end – Is this a breakthrough in the reform of the reorganisation procedure?
27/04/2021

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”)

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