The COVID-19 crisis has emphasised the importance of having performant insolvency proceedings. As of now, new measures are in force which aim to optimise the judicial reorganisation procedure. We elaborate on the three most relevant changes.

Belgian insolvency law organises two main types of insolvency proceedings: bankruptcy (faillissement/faillite) which is a winding-up proceeding and judicial reorganisation (gerechtelijke reorganisatie/réorganisation judiciaire) which is a safeguard proceeding.

This article deals with the insolvency concept of the center of main interests (COMI) under the European Union insolvency legislation, in particular Regulation 2015/848 on insolvency proceedings (the Insolvency Regulation or the Regulation).

Pursuant to the Insolvency Regulation COMI is one of the central unified and autonomous concepts¹ of the insolvent debtor, i.e. it is an insolvency concept and not a corporate law or tax concept.

The COVID-19 crisis has emphasised the importance of having performant insolvency proceedings. As of now, new measures are in force which aim to optimise the judicial reorganisation procedure. We elaborate on the three most relevant changes.

Belgian insolvency law organises two main types of insolvency proceedings: bankruptcy (faillissement/faillite) which is a winding-up proceeding and judicial reorganisation (gerechtelijke reorganisatie/réorganisation judiciaire) which is a safeguard proceeding.

This question is of particular importance considering further that the provisions of the Luxembourg Commercial Code may seem confusing when read literally and in isolation as to whether the period commences from the date of cessation of payments (cessation des paiements) alone, or the date of both the cessation of payments (cessation des paiements) and loss of creditworthiness (ébranlement du crédit) (i.e., the cumulative criteria for bankruptcy).

Genoteerd JANUARI 2021 NUMMER 138 WHOA - Wet homologatie onderhands akkoord - Inleiding - WHOA - hoofdlijnen - WHOA - bescherming schuldenaar en schuldeisers gedurende het akkoordtraject - Concluderend In deze uitgave Genoteerd 3 1 Inleiding 1.1 Op 1 januari 2021 is het wetsvoorstel wet homologatie onderhands akkoord (de WHOA) in werking getreden.

Quoted WHOA - the Dutch scheme of arrangement JANUARY 2021 EDITION 138 - Introduction - WHOA – main features - WHOA – protection of the debtor and creditors during the ratification process - In conclusion In this edition Quoted 3 1 Introduction 1.1 On 1 January 2021 the draft bill on ‘court sanctioning private composition to avoid bankruptcy” (wet homologatie onderhands akkoord – WHOA, also known as the “Dutch scheme of arrangement”) has been enacted.

During this second wave of COVID, new lock-down measures have been taken. Belgium has already provided for numerous measures to mitigate the economic impact of the coronavirus (COVID-19). In addition, the Belgian authorities have again adopted a statutory moratorium imposing a stay on creditors’ right to enforce debts, terminate existing agreements early and initiate bankruptcy proceedings.

On December 14, 2020, Judge Marvin Isgur of the United States Bankruptcy Court for the Southern District of Texas, issued an important decision in the CEC Entertainment, Inc. (Chuck E. Cheese) bankruptcy case, Case No. 20-33163, denying the Debtors’ motion to abate their obligations to pay post-petition rent due to government shutdown orders issued as a result of the COVID-19 pandemic. Memorandum Opinion [Dkt. No. 1492].

NOVEMBER 2020 Corona: directors’ duties and restructuring options in the BeNeLuCh Corona: directors’ duties and restructuring options in the BeNeLuCh I Introduction The rapid spread of the coronavirus (COVID-19) pandemic is leading to far-reaching health and safety measures all around the world. For people at home, but also for businesses, this creates a situation of great uncertainty. Certain governments have taken (extensive) measures to help businesses and its employees.

The Swiss Insurance Oversight Act has been subject to a partial revision in order to bring the protection of insurance customers in line with international developments and to improve the competitiveness of the Swiss insurance sector. The new provisions include a new insolvency restructuring regime, a customer categorisation making supervisory requirements proportional to the protection required by customers as well as new rules of conduct applicable to insurance undertakings and intermediaries.