This article summarises the major changes entered into force on 1st November 2018.
On 13 July, the amended settlement of € 1.3 billion reached between Ageas (former Fortis) and Deminor was declared binding by the Amsterdam Court of Appeal. It is the largest settlement of investors’ claims in Europe so far.
On 15 May 2018, the Belgian Government filed a draft law concerning the implementation of a new specialised English-speaking court in Brussels: the Brussels International Business Court (“BIBC”).
The Belgian Parliament is currently reviewing the draft law. The Government intends to ensure the entry into force of the law on 1st January 2020 at the latest.
Par son arrêt n° 47/2017 du 27 avril 2017, la Cour constitutionnelle a répondu à deux questions préjudicielles relatives au sort des créances de l’Administration fiscale nées après l’ouverture d’une procédure de réorganisation judiciaire, lorsque celle-ci débouche finalement sur une faillite ou une liquidation du débiteur. Cette décision offre l’occasion de faire le point sur cette question.
Rafaël Jafferali will sit as an arbitrator at the 4th Brussels Pre-Moot competition, which will be held on 3rd and 4th April 2017.
The Brussels Pre-Moot, organized by CEPANI, is a pre-competition for the renowned Willem C. Vis International Commercial Arbitration Moot on International Sales Law and International Arbitration.
The Pre-Moot will help the participants from all over the world to improve their pleading skills before a panel of top Belgian arbitrators and arbitration lawyers, who will lead the debates and provide feedback, right on time for the official Moot in Vienna.
For more information: http://www.brusselspremoot.be/
With effect as of January 1st, 2017, the Act of 25 December 2016 (known as the “Pot-Pourri IV Act”) amended among other things certain provisions of Part Six (i.e. articles 1676 to 1723) of the Belgian Judicial Code. This Part Six contains the provisions on arbitration (the so-called “Belgian Arbitration Act” or “BAA”).
The amendments are mostly a matter of fine-tuning, clarification and simplification. Still, some of them are noteworthy.