On 11 November 2021, the CJEU (C-340/20) ruled that the freezing of assets and economic resources under the EU restrictive measures (economic sanctions) precludes protective measures by creditors. Therefore, creditors should proactively seek protective measures or rely on a sanctions regime’s exception.

Restrictive measures

IntroductionProtection under Business Continuity ActPost-insolvency proceedingsComment

Introduction

Background
Legal developments
Comment


Historically, Belgian insolvency legislation has applied only to entities involved in commercial activities. However, recent jurisprudence and upcoming legislative changes will result in important amendments that are intended to broaden the scope of the existing legislation.

Introduction
Legal framework
Future developments
Practical guidelines and tips


Introduction

Suppliers are often surprised by their customers' insolvency and only at that moment discover that the goods that they delivered are unpaid.

The Business Continuity Act of January 31 2009, amended in 2013, provides for specific (court-supervised) restructuring proceedings, during which the company (or debtor) is protected against its creditors' claims so that it can reorganise its business.

Easy access and protection