Real Estate and Construction

Articles - On 1 January 2020, the mandatory provisions of the Code for Companies and Associations or "BCAC" entered into force. This article provides an overview of the main characteristics of the most commonly used unregulated real estate vehicles in Belgium (the regulated real estate vehicles are part of a separate publication that will be published shortly). It does not intend to provide a complete overview of all unregulated investment vehicles available, but it does give insight into the main characteristics of the most commonly used investment vehicles in Belgium.

Articles - What impact - if any - does local common law in your jurisdiction have on real estate? Do scenarios exist where the right to land diverges from the right to a building constructed upon that land? How can real estate lenders seek to protect themselves from borrower default? And are there any other regulatory measures which aim to improve the sustainability of both newly-constructed and existing buildings? 

Articles - Van een bestemmingsplan dat voorziet in 468 woningen in Roermond tot een sportpark in Zaanstad; van een bedrijventerrein in Aalten tot strandhuisjes en -paviljoens in Petten. Zomaar wat voorbeelden van projecten die na de PAS-uitspraken van de Afdeling bestuursrechtspraak – vooralsnog – geen doorgang kunnen vinden.

Inside Stibbe - As of 1 January 2020, David Orobio de Castro, Michael Molenaars and Job van Hooff will form the new board of Stibbe in Amsterdam. David Orobio de Castro has been on the board of Stibbe since 2016 and succeeds Derk Lemstra as managing partner. After a period of six years on the board, Derk will once again fully focus on advising clients in the field of corporate law.

Inside Stibbe - Luxembourg, 17 January 2020 – Stibbe reinforces its corporate & finance and asset management/funds practices in Luxembourg with the hire of Bernard Beerens (corporate partner), Audrey Jarreton (banking and finance counsel), Edouard d’Anterroches (investment funds partner), Victorien Hémery (investment funds partner), and Dayana Bert (investment funds counsel). Their arrival comes after the recent hire of tax partner Johan Léonard. All of these new additions demonstrate the firm’s commitment to expanding Stibbe’s service offering in Luxembourg.

Articles - In een kort arrest van 7 november 2019 (AR C.19.0061.N) casseerde het Hof van Cassatie een arrest van het hof van beroep te Antwerpen waarin een overeenkomst tot het oprichten van de woning en de bijhorende garage in strijd met de stedenbouwkundige vergunning absoluut nietig werd verklaard. Volgens het Hof van Cassatie bestaat er geen rechterlijk automatisme om een overeenkomst, die in strijd is met een rechtsregel van openbare orde, met absolute nietigheid te sanctioneren.

Short Reads - Op 25 november 2019 zond de regering de Spoedwet aanpak stikstof (“SAS”) naar de Tweede Kamer. Op 17 december 2019 nam de Eerste Kamer de SAS aan. Beoogde datum van inwerkingtreding is 1 januari 2020. Op zichzelf al een huzarenstukje. Hieruit blijkt duidelijk dat het SOS is voor de SAS.

Articles - A warranty & indemnity (W&I) insurance covers damage resulting from breaches of warranties given in the SPA by the seller. W&I insurance has been around for many years, but it has become increasingly popular in the last few years. According to Lockton, “recent statistics suggest that over 50% of corporate real estate transactions in Europe now use W&I insurance, a large driver for this has been the adoption of a EUR 1 cap on sellers’ liability under the SPA.”