The Belgian Act of 7 June 2023, transposing the EU Restructuring Directive (2019/1023) into Belgian law, finally enters into force on 1 September 2023.
This major reform of Belgium’s preventative restructuring framework creates opportunities for debtors, creditors, investors, insolvency practitioners through more flexible insolvency rules and advanced procedures tailored to the needs of today’s restructuring market.
DLA Piper's Belgian restructuring team explain the most important changes from Book XX (Insolvency) Economic Law Code in a series of updates including:
- Private Reorganisation Proceedings: Avoiding negative Publicity
- The Judicial Transfer of Activities: Rising from the Ashes?
- Collective Plan Reorganisations: The New Voting System for Large Companies
- The Private Bankruptcy Preparation: Pre-Packing to preserve Enterprise Value
- The Restructuring Expert: The New Kid on the Block
The new insolvency rules will apply to insolvency proceedings opened as of 1 September 2023.
How can we help?
In a field that’s becoming increasingly complex, our Belgian Restructuring Team (Legal 500, Tier 1 Insolvency) can help you navigate these legislative changes. Get in touch with our team if you have any questions.
