The statutory moratorium imposed by Royal Decree n° 15 to protect debtors affected by the coronavirus (COVID-19) crisis from their creditors is extended by decision of the Belgian federal government from 17 May 2020 to (and including) 17 June 2020.

The statutory moratorium imposes a stay on creditors’ right to enforce debts, terminate or dissolve existing agreements early and initiate bankruptcy proceedings and forced transfer of assets under judicial reorganisation.

In collaboration with our foreign law firm partners, we continue to update our chart of COVID-19 measures taken by governments around the world. Today’s update includes new information for many countries as indicated in the chart: Global Government Measures Taken in Response to COVID-19.

Op 29 oktober 2019 werd de wet van 28 mei 2019 tot wijziging van de Wet Betalingsachterstand gepubliceerd in het Belgisch Staatsblad. Deze nieuw wet voert beperkingen in m.b.t. de toegelaten betalingstermijnen tussen ondernemingen en zal van toepassing zijn op overeenkomsten die worden gesloten vanaf 29 april 2020.

De maatregelen die genomen zijn ter bestrijding van het COVID-19 virus hebben de financiële positie van ondernemingen ernstig beïnvloed. Verschillende ondernemingen worden geconfronteerd met een daling in inkomsten en zullen wellicht niet langer in staat zijn om hun schulden af te betalen. Ondernemingen in financiële moeilijkheden worden zo gedwongen tot insolventie. In het Koninklijk Besluit nr.

The confinement measures adopted by various governments to fight the Covid-19 outbreak have severely impacted the financial position, and particularly cashflow, of many undertakings. Revenues have completely or partially dried up, whilst overhead and recurring costs continue to be incurred.

The effects of the COVID-19 outbreak leave many Belgian enterprises in financial distress, or even, for some of them, at risk of insolvency. In order to help these enterprises navigate the crisis and prevent them from going bankrupt, the Belgian Government implemented a moratorium on insolvency and enforcement proceedings.

Beneficiaries

Any enterprise (e.g. any legal person) whose continuity is threatened due to the COVID-19 outbreak and which was not in cessation of payments on 18 March 2020 may benefit from this moratorium.

Tant au niveau fédéral que régional, les autorités belges ont introduit un grand nombre de mesures de soutien pour aider les entreprises belges à faire face à la crise actuelle du Coronavirus. Malheureusement, malgré ces mesures, il n’est pas exclu que de nombreuses entreprises ne soient plus en mesure de payer leurs dettes à court, moyen ou long terme. Jusqu’à il y a peu, ces entreprises pouvaient compter ‘uniquement’ sur la procédure de réorganisation judiciaire pour se protéger contre une faillite (imminente).

The confinement measures adopted by various governments to fight the Covid-19 outbreak have severely impacted the financial position, and particularly cashflow, of many undertakings. Revenues have completely or partially dried up, whilst overhead and recurring costs continue to be incurred.

Both on the federal and regional level, the Belgian authorities introduced a large number of support measures to support Belgian companies while coping with the current Corona crisis. Unfortunately, despite these measures, it is plausible that many companies will still be unable to pay their debts in the short, medium or long term. Until recently, these companies could ‘only’ rely on the judicial reorganisation procedure for protection against (an imminent) bankruptcy. A power of attorney decree of 24 April 2020 n° 15 creates a legal moratorium.