As from 1 May 2018, the Belgian insolvency landscape will look different following the entry into force of the brand new Insolvency Law (Book XX of the Economic Law Code). In the wake of the electronic debt reporting system that came into force on 1 April 2017, the filing of bankruptcy must also be made electronically in the Central Solvency Register (RegSol) as of 1 May 2018.

Recently, government introduced a new draft law on the reform of the Bankruptcy Act and the Law regarding the Continuity of Enterprises (LCE).

The draft law still needs to be approved by the Federal Parliament, but it is expected to come into effect no later than 1 September 2017.

The current legislation on insolvency will be made up to date and adapted to European Regulations. Moreover it will be incorporated into the Code of Economic Law to make it a coherent set.

Below is a brief overview of the main new elements of the law.

Minister of Justice Koen Geens has abandoned the introduction of the 'silent bankruptcy' following a judgment of 22 June 2017 of the European Court of Justice.

On 1 May 2018, the new insolvency legislation came into force. The (separate) Continuity of Enterprises Law as we knew it until recently, has ceased to exist and has been amended and fully incorporated into Volume XX of the Code of Economic Law.

L’entrée en vigueur de la toute nouvelle loi sur l’insolvabilité modifiera le paysage du droit de l’insolvabilité belge dès à partir du 1er mai 2018. Le 1er avril 2017 entrait en vigueur le système de déclaration de créance par voie électronique. A présent, entrera en vigueur, dès ce 1er mai 2018, la demande de faillite par voie électronique dans le Registre Central de la Solvabilité.