Articles

Additional delay for new Companies Code?

Additional delay for new Companies Code?

Additional delay for new Companies Code?

05.10.2018 BE law

The Council of State has taken a second look at the draft law and recently issued, for the second time, a rather bleak opinion about the overall quality of the draft law regarding Belgium’s new Companies Code.

The draft law regarding Belgium’s new Companies Code may have hit a new roadblock on its way to parliamentary approval.

At the request of Parliament, the Council of State has taken a second look at the draft law and recently issued, for the second time, a rather bleak opinion about the overall quality of the legislative proposal. In particular, in its opinion of 13 September 2018 (published on 26 September 2018), the Council points to a series of inconsistencies, incoherencies, inaccuracies and oversights, leading it to conclude that the entire draft law should be subject to a thorough reassessment.

However, the parliamentary machine mulls on unabated; the draft law was discussed in Committee on Monday 1 October and seems still to be headed for a vote before the end of the month.

However, moving ahead without taking into consideration the remarks of the Council of State is not without risk, in particular when it comes to its substantive criticism on to some of the more contested parts of the draft law, such as the cap on directors’ liability or the possibility to issue shares with multiple voting rights, both of which could, according to the Council of State, not pass the constitution’s non-discrimination test. To be continued.

Related news

17.01.2020 LU law
Stibbe boosts service offering in Luxembourg with new partners and counsel for asset management/funds and corporate & finance

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.

Read more

17.01.2020 LU law
Stibbe Luxembourg étend son offre de services par la venue de nouveaux associés et counsels au sein des pratiques spécialisées en gestion d’actifs/fonds d’investissement, en droit des sociétés ainsi qu’en droit financier

Inside Stibbe - Luxembourg, le 17 janvier 2020 – Stibbe renforce ses pratiques spécialisées en droit des sociétés, en droit financier ainsi qu’en gestion d’actifs/fonds d’investissement par la venue de Bernard Beerens (associé, droit des sociétés), Audrey Jarreton (counsel, droit bancaire et financier), Edouard d’Anterroches (associé, fonds d’investissement), Victorien Hémery (associé, fonds d’investissement) et Dayana Bert (counsel, fonds d’investissement).

Read more

20.01.2020 BE law
Most commonly used unregulated real estate investment vehicles in Belgium

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.

Read more

15.01.2020 NL law
The Dutch scheme - a summary of the upcoming new restructuring tool

Short Reads - As mentioned in our earlier blog, the Dutch legislator has prepared a bill – the Act on confirmation of private restructuring plans (Wet homologatie onderhands akkoord) – introducing a framework that allows debtors to restructure their debts outside formal insolvency proceedings (the “Dutch Scheme“). We expect this highly-anticipated bill to enter into force by this summer. The Dutch Scheme combines features from the UK Scheme of Arrangement and the US Chapter 11 proceedings. Below, we summarize certain key aspects of the Dutch Scheme.

Read more

Our website uses functional cookies for the functioning of the website and analytic cookies that enable us to generate aggregated visitor data. We also use other cookies, such as third party tracking cookies - please indicate whether you agree to the use of these other cookies:

Privacy – en cookieverklaring