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Clifford Chance

Clifford Chance

Briefings

New Belgian Insolvency Rules

6 November 2017

On 13 July 2017, the Belgian parliament adopted a new insolvency bill. The bill, which is set to enter into force on 1 May 2018, abolishes and replaces the former bankruptcy law and the law on the continuity of enterprises, and brings together all relevant provisions in a new Book XX of the Code of Economic Law. Although the Bill does not change a number of fundamental principles applicable to Belgian insolvency procedures, it modernises and streamlines these procedures and brings them in line with EU standards.

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