Has the ECJ just killed the Belgian judicial restructuring procedure by transfer under judicial supervision?
The Belgian judicial restructuring procedure by transfer under judicial supervision (“PRJ 3 / WCO 3”) regulates the transfer of all or part of the debtor’s undertaking under the supervision of a judicial trustee. One of the main added-values of this Belgian procedure is the “right of option”, which allows the transferee to choose which transferor’s […]
Is Brexit a regulatory opportunity for Belgian InsurTechs and the insurance market as a whole?
In theory, insurance services are harmonised at the EU level. Insurance companies and intermediaries alike may easily ‘passport’ their domestic licences across the entire EEA, thereby servicing the entire European market, either through the freedom to provide services or the freedom of establishment (e.g. through branches). In practice, however, the insurance market is not (yet?) […]
The new Code of Companies and Associations enters into force as from tomorrow
The new Code, which was published in the Official Journal on 4 April 2019, will gradually come into force as from tomorrow. The date of entry into force of the new Code is 1 May 2019. As from this date, each newly incorporated entity will have to comply with all the provisions of the new Code. For existing companies […]
La représentation en justice par un agent d’affaires en cas de petit litige
Un passager cherchant à être indemnisé par une compagnie aérienne pour cause d’annulation ou de retard de son vol peut-il être représenté par un agent d’affaires ? Marc Baetens-Spetchinsky analyse cette question au regard du Règlement européen sur les petits litiges, abordant aussi la notion de « circonstances extraordinaires » au sens du Règlement européen « droits des passagers » […]
The « Löber » case in the era of digital banking
In the era of digital banking, does it still make sense to use the localisation of a bank account to settle conflicts of jurisdiction? In its recent case “Löber”, the ECJ decided that tort claims against the issuer of a misleading prospectus may be brought before the courts of the investor’s domicile provided that his […]
UBO Register – Important updates in the FAQ document
An important update of the UBO Register FAQ document has been published by the Federal Public Service Finance on 2 April 2019. It provides a number of clarifications on the scope of the regulations, notably with respect to the notion of senior managing official, the situation in case of a usufruct / bare ownership, co-ownership, shareholders’ agreements… It also […]
The final text of the new Companies Code has been published
Today has been published the Law of 23 March 2019 introducing the Code of companies and associations and amending certain other regulations (notably the Law on takeover bids). The final text is now available here. For any assistance, please contact Sandrine Hirsch or Nikita Tissot.
Publication de l’A.R. sur la gestion et l’assainissement des sols
Enfin! Le très attendu arrêté du Gouvernement wallon du 6 décembre 2018 relatif à la gestion et à l’assainissement des sols a été publié au Moniteur Belge vendredi dernier. Il est entré en vigueur rétroactivement au 1er janvier 2019 et est disponible ici. Pour toute question ou assistance, n’hésitez pas à contacter Manuela von Kuegelgen […]
New Copyright Directive approved by the EU Parliament
On 26 March 2019, a fierce battle took place in the arena of the EU Parliament. Arguments flowing back and forward resulted in a close majority in favour of the supporters of the new Directive (EU) 2019 of the European Parliament and of the Council on copyright and related rights in the Digital Single Market and amending Directives […]
Register of Beneficial Owners – Obligation to identify UBOs
Introduction The Belgian anti-money laundering regulations (the Law of 18 September 2017 and the Royal Decree of 30 July 2018) require all companies, non-profit-making organisation and foundations, as well as trusts, fiduciaries and other similar legal entities managed from Belgium, which are the responsible “information providers”, to obtain and hold adequate, accurate and up to […]
The new Belgian Code of Companies and Associations has been voted
It’s official: the new Belgian Code of companies and associations has been approved yesterday in its final version by the Belgian Parliament. It will be published in the official gazette in the coming weeks and will gradually come into force as from May 1st, 2019. For an insight into the reform, please refer to a recent […]
UBO Register: new deadline extension
The Belgian Minister of Finance announced yesterday that the deadline for the 1st registration in the UBO register had been extended to 30 September 2019 (instead of 31 March). For more information on this topic, please see our previous news authored by Sandrine Hirsch and Jacques Malherbe.
