Belgium about to implement foreign direct investment screening mechanism
On 1 June 2022, the various governments of Belgium reached a cooperation agreement on developing a foreign direct investment screening mechanism. With the adoption of a screening mechanism, Belgium gives effect to Regulation (EU) 2019/452 establishing a framework for the screening of foreign direct investments into the European Union. Scope of application of the screening […]
Ambiguity in insurance contracts may favour policyholders and insureds
It is common to complain about how puzzling insurance contracts can be. These are often long, complex, and use concepts known only to specialists. However, it is about as common to sign a difficult to read insurance contract as it is to click on “Accept all cookies” while visiting a website. Most of the time, […]
Insolvency | Back to the future with the Heiploeg ruling?
After having almost killed the Belgian judicial restructuring procedure by transfer under judicial supervision (see our previous news on the topic), the European Court of Justice (“ECJ”) may have brought it back to life with the long-awaited Heiploeg ruling. Below, we explain the milestones and key takeaways of this evolving procedure. We have also summarised […]
The latest Corporate and M&A trends in Belgium
What are the latest Corporate and M&A trends in Belgium? Simont Braun provides insight on the most notable developments in Chambers and Partners Overview 2022. Our overview focuses on the increased activity of VC/PE firms, the augmentation of seller-initiated deals, the use of deferred payment elements, W&I insurance, the fast-growing tech start- and scale-ups, and ESG […]
New registration obligation for Virtual Asset Service Providers (VASPs) in Belgium
As of 1 May 2022, certain crypto-related activities in Belgium will become regulated. The providers of these services will have to register with the Financial Services and Market Authority (‘FSMA’). On 8 February 2022, the Belgian government finally adopted its much-awaited Royal Decree on the status and supervision of providers of exchange services between virtual […]
What is in the proposal Directive on corporate sustainability due diligence?
On 23 February 2022, the European Commission issued the long-awaited proposal Directive on corporate sustainability due diligence (the “Draft Directive”). The Draft Directive will impose on the largest companies and companies in high-impact sectors a due diligence duty for their own operations, their subsidiaries, as well as their established direct and indirect business relationships throughout […]
Unregistered designs: open road for the protection of car parts?
In “Ferrari / Mansory Design” (C-123-20), the CJEU clarified that unregistered design rights could arise in individual car parts as a result of the disclosure of an overall image of the car in the EU. This is good news for car manufacturers, but the EU Commission’s proposal to reform the EU design regime for spare […]
New Belgian tax regime for expats
After many decades, a new expat regime has replaced the current regime as of 1 January 2022. The idea is still to enable international companies to attract qualified people in Belgium at a more competitive cost. While the new regime should provide more legal certainty and accommodate certain flaws, it also brings fundamental changes (including […]
Digital Content Directive: imminent changes in the video game industry
Over the last couple of years, video game players around the world have had several occasions to complain about video game companies due to “broken promises”. The video game industry remembers the recent disaster of Cyberpunk 2077’s launch, one of the most expected games of end 2020. At its release, the games’ console version suffered […]
Nouvelles mesures contre le retard de paiement dans les transactions commerciales
Ce 1er février 2022, des règles plus strictes tendant à lutter contre le retard de paiement dans les transactions commerciales entrent en vigueur en Belgique. Elles entendent constituer un outil efficace pour obtenir des paiements en temps et en heure en matière commerciale. Ces nouvelles mesures sont prévues par la loi du 14 août 2021 […]
Simont Braun authors Belgian chapter in Chambers Litigation Guide
Are you looking for a clear overview of litigation in Belgium? Simont Braun is happy to share its experience in the Chambers Litigation Global Practice Guide, available here. It provides a sharp and pragmatic insight into the Belgian judicial system, including litigation funding and costs, initiating a lawsuit, particular proceedings, trial and judgment, settlements, damages, […]
The EU Recovery Prospectus: a useful tool?
In February 2021, a new short-form prospectus was introduced in the EU regulatory framework aimed at supporting recovery from the business and financial impact of the COVID-19 crisis (Regulation 2021/337 of 16 February 2021 amending the Prospectus Regulation 2017/1129 of 14 June 2017). Such a new form of prospectus, called the ‘Recovery Prospectus’, seeks more […]