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    Effect of EU preventive restructuring directive on Belgian insolvency framework
    2019-10-18

    Introduction

    Filed under:
    Belgium, Insolvency & Restructuring, ALTIUS
    Location:
    Belgium
    Firm:
    ALTIUS
    Het insolventierecht hervormd (Deel III): Aansprakelijkheid van bestuurders bij insolventie
    2018-06-27

    In het kader van de hervorming van het insolventierecht die op 1 mei 2018 van kracht is geworden, heeft de wetgever een aantal belangrijke wijzigingen doorgevoerd inzake de aansprakelijkheid van bestuurders bij een faillissement. De herziene aansprakelijkheidsregels gelden voor bestuurders van vennootschappen en niet voor natuurlijke personen die ondernemingen zijn maar geen vennootschapsstructuur hebben.

    1. Aansprakelijkheidsvordering wegens kennelijk grove fout

    Filed under:
    Belgium, Company & Commercial, Insolvency & Restructuring, Andersen
    Authors:
    Leila Mstoian , Leo Peeters
    Location:
    Belgium
    Firm:
    Andersen
    Personal bankruptcy of company administrators
    2018-07-27

    In the past, administrators of commercial companies with limited liability (eg, NV/SA and BVBA/SPRL) were not seen as 'merchants' under Belgian law. In other words, the administration of commercial companies was not seen as a commercial act. As a result, such administrators could not (personally) be declared bankrupt.

    Filed under:
    Belgium, Insolvency & Restructuring, ALTIUS
    Location:
    Belgium
    Firm:
    ALTIUS
    Personal bankruptcy of company administrators
    2018-07-27

    In the past, administrators of commercial companies with limited liability (eg, NV/SA and BVBA/SPRL) were not seen as 'merchants' under Belgian law. In other words, the administration of commercial companies was not seen as a commercial act. As a result, such administrators could not (personally) be declared bankrupt.

    Filed under:
    Belgium, Insolvency & Restructuring, ALTIUS
    Location:
    Belgium
    Firm:
    ALTIUS
    Follow-up monitoring of companies in financial difficulty
    2018-09-07

    In February 2018 the legislature took steps to improve the follow-up monitoring of companies in financial difficulty and strengthen the fight against inactive companies (for further details please see "Stricter scrutiny of inactive companies").

    Filed under:
    Belgium, Insolvency & Restructuring, ALTIUS
    Location:
    Belgium
    Firm:
    ALTIUS
    Voortaan gebeurt ook de aangifte van faillissement digitaal
    2018-04-30

    Vanaf 1 mei 2018 ziet het Belgische insolventielandschap er anders uit ingevolge de inwerkingtreding van het gloednieuwe insolventierecht (Boek XX in het Wetboek Economisch Recht). In navolging van de elektronische aangifte van schuldvordering sinds 1 april 2017, dient vanaf 1 mei 2018 ook de aangifte van faillissement elektronisch te gebeuren in het Centraal Register Solvabiliteit (Regsol).

    Filed under:
    Belgium, Insolvency & Restructuring, Andersen
    Authors:
    Leila Mstoian , Leo Peeters
    Location:
    Belgium
    Firm:
    Andersen
    Entry into Force of the New Belgian Insolvency Code
    2018-05-03

    Over the past few years, the Belgian legislature has consolidated various pieces of legislation regulating businesses into a single instrument: the Code of Economic Law (Wetboek van economisch recht/ Code de droit économique). Insolvency law has not escaped this trend. In the summer of 2017, the Belgian Parliament enacted Book XX of the Code of Economic Law, entitled "Insolvency of Undertakings" (hereinafter the "Insolvency Code").

    Filed under:
    Belgium, Insolvency & Restructuring, Litigation, NautaDutilh
    Authors:
    Stan Brijs , Sophie Jacmain , Robert van Galen , Josée Weydert , Romain Sabatier
    Location:
    Belgium
    Firm:
    NautaDutilh
    Relationship between privileged and secured creditors
    2018-05-04

    On February 22 2018 the Supreme Court delivered an important judgment regarding the relationship between:

    • privileged creditors in the framework of reorganisation proceedings; and
    • secured creditors in the event of a subsequent bankruptcy.

    Privileged claims

    Filed under:
    Belgium, Insolvency & Restructuring, Litigation, ALTIUS, Bankruptcy
    Location:
    Belgium
    Firm:
    ALTIUS
    Reform of Belgian insolvency law as of 1 May
    2018-05-04

    As from 1 May 2018, a comprehensive reform of the Belgian insolvency framework entered into force. The old framework consisted of two separate laws governing respectively bankruptcy and judicial reorganization. The new legal framework incorporates both regimes in Book XX of the Belgian Code of Economic Law.

    Innovations

    Filed under:
    Belgium, Insolvency & Restructuring, Loyens & Loeff
    Authors:
    Marc Vermylen
    Location:
    Belgium
    Firm:
    Loyens & Loeff
    Works of art can also be used as collateral for financing
    2018-05-07

    The work of art as a security in Belgian law

    Filed under:
    Belgium, Insolvency & Restructuring, Andersen, Collateral (finance)
    Location:
    Belgium
    Firm:
    Andersen

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