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What duties and potential liabilities should the directors/managers have regard to when managing a company in financial difficulties? Is there a specific point at which a company must enter a restructuring or insolvency process? 

Alike other European countries, Luxembourg has adopted, in the context of the Covid-19 state of crisis, temporary measures. extended deadlines for filing and publishing financial data for commercial companies and regulated entities, among others.

The Court of Appeal of Arnhem-Leeuwarden ruled on 3 March 2020 that an accountant did not properly advise her client with respect to a sale of real estate (ECLI:NL:GHARL:2020:1875).

On 26 May 2020, the Dutch Parliament’s House of Representatives (Tweede Kamer) adopted the Act on confirmation of private restructuring plans (Wet homologatie onderhands akkoord (“WHOA”)). The next step will see the WHOA put to vote in the Senate.

In a recent case, the Court of Appeal of Arnhem-Leeuwarden dismissed a claim of the bankruptcy trustee of Welsec against an audit firm for failing to ensure that the audited company, Welsec, included a provision in its annual accounts for [...]

The Belgium Chapter of the International Comparative Legal Guide to Restructuring & Insolvency 2020 is online. Authored by Paul Van der Putten & Pieter Wouters, it covers key topics across 27 jurisdictions.

In a decision of Friday 15 May 2020, the Dutch Supreme Court confirmed that fixed-to-floating rate perpetual equity securities (“perpetual securities”) should not be considered a “participation loan” (deelnemerschapslening) for Dutch tax purposes. Under D

Hans Van Bavel, Elisabeth Matthys and Ann Apers contributed to the Financial and Business Crime Global Guide. 

On 1 April 2020, the Temporary Emergency Bridging Measure to Preserve Employment ("NOW") was published. Since 6 April 2020, employers can apply for a wage subsidy under the NOW.

After discussions in the Dutch Parliament leading to a late implementation of the amendment of the fourth anti-money laundering and anti-terrorism financing directive, the Dutch implementation will most likely be in force before 18 May 2020. In addition,

On 7 May, 2020, the ONEM/RVA has modified its instructions: the simplified procedures for temporary unemployment due to force majeure resulting from the Covid-19 crisis can be applied up to and including 30 June, 2020.

Many Member States are taking measures to support the economy during the COVID-19 crisis. The European Commission’s Temporary Framework enables the rapid approval of certain types of State aid.

Competition authorities are temporarily ‘green-lighting’ certain collaboration initiatives to safeguard the supply of essential products in light of the COVID-19 outbreak.

The European Court of Justice has found there is no shortcut for determining whether particular conduct can be held to have the object to restrict competition.

The two in-depth analyses examine, respectively, the impact of the reform on the governance of financial institutions and on financial transactions, and the new form of limited company ("Société à responsabilité limitée"/"Besloten vennootschap").

On 21 April 2020, the legislative proposal for the Financial Markets Repair Act 2020 (the “Proposal”) was submitted to Dutch Parliament (Tweede Kamer). The Proposal repairs deficiencies and omissions that have occurred in the implementation in Dutch law o

The Minister of Economic Affairs and Climate Policy presented the ‘Government strategy on hydrogen’ (Kabinetsvisie Waterstof, also available in English) by means of a letter addressed to the Dutch House of Representatives (Tweede Kamer) on 30 March 2020.

In the context of the coronavirus the Belgian tax authorities have issued aid measures concerning taxation with the aim of supporting enterprises and natural persons facing financial difficulties. This short read, provides an overview of these measures.