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Flash News | New moratorium for enterprises in difficulty

Estimated time to read this article
2 min
Date of publication
7 January 2021
Author(s)
Fanny Laune
Categories
Commercial Law, Civil Law and Consumer Law, Corporate M&A and Capital Markets, Dispute resolution

Belgium has recently adopted extra measures to combat the negative economic impact of Covid-19.

The Law of 20 December 2020, which entered into force on 24 December 2020, provides for a second moratorium for companies in difficulty up until 31 January 2021 (included).

The scope of application of these measures is, however, more restrictive than during the first lockdown in March 2020. They only concern enterprises subject to closure pursuant to the Ministerial Orders of 28 October and 1 November 2020 (e.g. Horeca establishments, establishments in the cultural, festive, sports and events sectors, companies in the “contact business” sector, etc.).

In addition, as under the Royal Decree n°15, the concerned enterprises cannot have already been in a state of suspension of payments on 18 March 2020 to benefit from these measures.

As to the protection measures, they are identical to those created by the Royal Decree n°15. Please refer to our news of May 2020 for a description of the latter.

The Law of 20 December is available here.

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For any question or guidance, please contact Fanny Laune

fanny.laune@simontbraun.eu
+32 2 543 70 80