To prevent companies from going bankrupt due to the Corona crisis, the government provided a temporary breathing space for struggling companies from April 24 to May 17. The measure means that any company that is struggling financially will enjoy an automatic suspension.
Specifically:
- your company cannot be declared bankrupt;
- current contracts cannot be terminated by default;
- no attachments can be made; and
- you are not required to file a bankruptcy petition if you find that your business is struggling financially.
A condition for this automatic suspension is that your company was not in a state of bankruptcy before March 18. In other words, the financial difficulties must have arisen due to the Corona crisis.
This measure is now extended in advance until June 17.
If you would like more information about this, please contact us at 051 26 82 68 or via email at info@titeca.be.
