Bochon & Partners
Prevention
Acting before insolvency, before difficulties turn into collective insolvency proceedings.
Prevention covers the mechanisms that allow a company in difficulty to act before it ceases payments: examination by the Chamber for Enterprises in Difficulty, an amicable agreement with creditors, the appointment of a restructuring practitioner, protective measures. This is when every option is still open. The earlier the intervention, the more discreet it is — and the more likely it is to succeed. Our role: identify the right tool before the situation imposes one on you.
See also: judicial reorganisation (PRJ) · bankruptcy (own filing or summons) · judicial dissolution and liquidation.
Apart from judicial reorganisation, bankruptcy and judicial dissolution, the Code of Economic Law provides several mechanisms for intervening before insolvency. Some can be initiated by the debtor; others result from a report or automatic detection.
Our firm assists companies:
- targeted by a measure (summons, appointment, divestment),
- or wishing to act voluntarily, in a discreet and structured framework.
Warning system and register of economic warning signals
The Code provides for a central register of economic warning signals: uncontested default judgments, unpaid social security or tax debts, changes in staff or registered office, and signals from the National Bank of Belgium (NBB) may all appear in it.
The debtor has the right:
- to access the data concerning it (via the court),
- to request its rectification,
- to be assisted in understanding the consequences.
Examination by the Chamber for Enterprises in Difficulty
The court may examine a company’s situation of its own motion, on the basis of objective elements or a report (accountant, public prosecutor…). The debtor may also request an examination itself, to obtain a structured opinion, avoid collective proceedings or initiate an agreement with certain creditors.
This examination is:
- confidential (held in camera, no publication),
- non-binding, but it may lead to a referral to the public prosecutor or to recommendations.
Interim measures
In the event of an internal crisis or a manifest failure of the management, the president of the court may:
- restrict management powers,
- appoint a provisional administrator,
- order a partial or total divestment, as a protective measure.
These measures are only available where there are serious, specific and consistent indications of a state of bankruptcy.
Amicable agreement outside a PRJ
The debtor may conclude an amicable agreement with certain creditors outside any court proceedings. It may then ask the president of the court to approve it:
- without publication,
- with no possibility of appeal,
- and with enforceable effect.
This mechanism is a useful alternative when a PRJ is not wanted or not possible.
A situation to anticipate?
Tell us about your situation in complete confidence. We assess the options before it is too late.
Get in touch →Frequently asked questions
Unpaid social security or tax debts can be entered in the register of economic warning signals and trigger a summons before the Chamber for Enterprises in Difficulty. It is better to act early: a voluntary examination, or a confidential amicable agreement with creditors, is often possible. We help you structure this approach before proceedings become unavoidable.
It is a central register recording certain signs of difficulty: uncontested judgments, unpaid social security or tax debts, changes in staff or registered office, signals from the NBB. The debtor has the right to access the data concerning it, to request its rectification and to be assisted in understanding the consequences.
In the event of an internal crisis or a manifest failure of the management, the president of the court may — where there are serious, specific and consistent indications — restrict management powers, appoint a provisional administrator and order a partial or total divestment, as a protective measure.
Yes. An amicable agreement can be negotiated outside any court proceedings and then approved by the president of the court — without publication, with no possibility of appeal and with enforceable effect. It is a useful alternative when judicial reorganisation is not wanted or not necessary.