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”.
De wetgever heeft eindelijk het Wetboek van economisch recht gewijzigd om het arsenaal van instrumenten waarover ondernemingen in moeilijkheden beschikken om hun herstel te bewerkstelligen, aan te vullen
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.
Op 24 december 2020 is een nieuw automatisch moratorium in werking getreden. Dit moratorium beschermt Belgische ondernemingen die kampen met betalingsmoeilijkheden ingevolge de corona-maatregelen.
Belgium has recently adopted extra measures to combat the negative economic impact of Covid-19.
