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").
To determine whether companies are in financial difficulty, the courts gather information from various (digital) sources. However, the focus remains on preventive mechanisms – namely, identifying companies in financial difficulty and following up with court action.
A parliamentary debate recently took place concerning how such companies can be monitored outside the courts. Indeed, some organisations (eg, Dyzo) focus on assisting companies in financial difficulty through a possible reorganisation process. In order to facilitate such services, it is hoped that data will be directly exchanged with the courts.
The minister of justice recently replied to a parliamentary question on this matter. He stated that negotiations are ongoing between the different Belgian regions to find an agreement on the exchange of such (digital) information between the courts and third parties.
A Royal Decree supporting these practices was recently announced.
For further information on this topic please contact Bart Heynickx at ALTIUS by telephone (+32 2 426 1414) or email ([email protected]). The ALTIUS website can be accessed at www.altius.com.
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