The Business Continuity Act of 31 January 2009 (the “Act”) creates a variety of flexible tools to promote business recovery and turnaround. In addition to an updated judicial reorganization procedure (i.e., a reorganization overseen by the court), the Act also introduces several interesting options for out-of-court workouts and preventive measures to promote business recovery.
Out-of-court agreements
Belgium, Insolvency & Restructuring, NautaDutilh, Confidentiality, Bankruptcy, Debtor, Collateral (finance), Consideration, Debt, Mediation, Business continuity
Entry into force on 1 April 2009 of the new Act on the continuity of companies
The Act of 31 January 2009 on the continuity of companies (Loi relative à la continuité des enterprises/Wet betreffende de continuïteit van de ondernemingen, the "Act") entered into force on 1 April 2009.
Belgium, Insolvency & Restructuring, NautaDutilh, Bankruptcy, Debtor, Waiver, Debt, Liability (financial accounting), Mediation