Insolvency & Restructuring updates

Belgium

Contributed by ALTIUS
Effects of bankruptcy on spouses' personal debts
  • Belgium
  • 07 December 2018

The former Bankruptcy Statute of 1997 included a principle that a natural person could be discharged of their remaining and outstanding debts – a so-called 'waiver' – at the moment of a bankruptcy's closure. The discharge's beneficial effects were extended to the bankrupt person's spouse. However, for bankruptcies that have happened since 1 May 2018, and so fall under the new legal framework, this situation has changed.


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