On 24 April 2020, Royal Decree No 15 has been published which temporarily protects companies against conservatory and enforcement attachment and bankruptcy (and judicial dissolution) and the dissolution of agreements due to non-payment.
This does not affect the obligation to pay due debts.
This temporary suspension of legal actions that may lead to insolvency applies from 24 April 2020 to 17 May 2020 for all enterprises whose continuity is threatened by the corona crisis, provided that they were not already in default on 18 March 2020.
Zowel op federaal als gewestelijk niveau werden ondertussen heel wat steunmaatregelen uitgevaardigd door de overheden om de Belgische ondernemingen te helpen het hoofd te bieden aan de huidige Corona-crisis. Het is helaas niet uitgesloten dat vele bedrijven ondanks deze maatregelen op korte of (middel)lange termijn toch niet langer in staat zullen zijn om hun schulden te betalen. Voor deze ondernemingen stond tot voor kort enkel de procedure van gerechtelijke reorganisatie open om zich te beschermen tegen een (nakend) faillissement.
In the context of the COVID-19 pandemic, many measures have already been taken to support the economy as much as possible during these turbulent times. It is already clear that the impact will be enormous and that the cash buffer built up by some companies will not be enough to survive this crisis. Measures such as deferrals on paying tax and social debts, temporary unemployment due to economic reasons and the Belgian State’s guarantee scheme for bank loans will not suffice for some.
Belgium has already taken numerous measures to mitigate the economic impact of the coronavirus (COVID-19). The federal government has now also decided temporarily to protect debtors affected by the coronavirus crisis from creditors by imposing a stay on creditors’ right of creditors to enforce debts, terminate or dissolve existing agreements early and initiate bankruptcy proceedings.
September 2016 CMS_LawTax_Negative_28-100.eps Enforcing Security over Real Estate and Shares across Europe 2 | Enforcing Security over Real Estate and Shares across Europe 3 Introduction 4 Albania 5 Austria 6 Belgium 7 Bulgaria 8 Czech Republic 9 England and Wales 10 France 11 Germany 12 Hungary 13 Italy 14 Luxembourg 15 Montenegro 16 Netherlands 17 Poland 18 Portugal 19 Romania 20 Russia 21 Scotland 22 Serbia 23 Slovakia 24 Slovenia 25 Spain 26 Turkey 27 Ukraine 28 Contacts Contents 19 practice and sector groups working across offices Ranked 2nd most global law firm in the Am Law 2015 Glob
As the Novel coronavirus (COVID-19) pandemic continues to spread across the globe, people and businesses are facing unprecedented challenges, both immediate and strategic. Governments in various jurisdictions have announced various measures to try to alleviate the distress caused by the numerous issues that have arisen and continue to arise, particularly around cashflow and employees.
1. Het Hof van Cassatie heeft met zijn belangwekkend arrest van 12 maart 2020 (C.19.0437) een einde gesteld aan een discussie, die jarenlang binnen het faillissementsrecht heeft gewoed.
2. Volgens een deel van de rechtspraak en rechtsleer konden hypothecaire en bevoorrechte schuldeisers, die geen of laattijdig aangifte van schuldvordering deden, namelijk geen aanspraak maken op een (gedeeltelijke) uitkering.
Ter ondersteuning, verwees men onder meer naar de parlementaire voorbereidingen van de oude Faillissement en naar de letter van de wet.
Si certains employeurs peuvent affronter la crise actuelle en mettant en œuvre un régime de chômage temporaire – consistant soit en une suspension complète du contrat de travail ou en une suspension partielle et partant à l’application d’une réduction du temps de travail – d’autres employeurs sont contraints de procéder à des licenciements. Des mesures complémentaires de soutien ont été adoptées afin de compenser la diminution des activités par une réduction du temps de travail, permettant ainsi de faire baisser le coût du travail sans devoir procéder à des licenciements.
The COVID-19 crisis has pushed intellectual property holders and implementers into a distressed situation. In this webinar, we explore what happens if a party to an IP licence becomes insolvent, and discuss practical tips for the non-insolvent party to protect its position.
By Claeys & Engels
In mid-June, parties supporting the Belgian minority government agreed on a set of additional support measures for employers with a view to boosting the economy in the aftermath of the corona crisis. This article sets out details.