Automatic suspension of bankruptcy proceedings extended

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To prevent companies from going bankrupt because of the Corona crisis, the government has created temporary breathing space for companies in difficulty from 24 April to 17 May. As a result of this measure, any company experiencing financial difficulties will benefit from an automatic suspension.

 

Specifically, this means:

  • your company cannot be declared bankrupt;
  • current contracts cannot be terminated due to non-payment;
  • no assets can be seized; and
  • you are not required to file for bankruptcy once you discover that your company is struggling financially.  

A condition for this automatic suspension is that your company was not in a state of bankruptcy prior to 18 March. In other words, the financial difficulties must have been caused by the Corona crisis.

 

This measure is now extended until 17 June, at least.

 

If you need help or advice in order to benefit from one of the above measures, we will gladly assist you.  You can contact us by phone at 051 26 82 68  or by sending an e-mail to info@titeca.be.