belgiquelex.be - Carrefour Bank of Legislation

31 JANUARY 2009. - Business Continuity Act (1)

ALBERT II, King of the Belgians,
To all, present and to come, Hi.
The House of Representatives adopted and sanctioned the following:
PART 1^er. - General provisions
Article 1^er. This Act regulates a matter referred to in Article 78 of the Constitution.
Art. 2. For the purposes of this Act:
(a) "Management Committee": the management committee referred to in section 15 of the Act of 10 August 2005 establishing the Phenix information system;
(b) » Oversight Committee »: the monitoring committee referred to in section 22 of the Act of 10 August 2005 establishing the Phenix information system;
(c) "oversary claims": claims arising prior to the opening judgment of the judicial reorganization proceedings or arising from the filing of the request or decisions taken in the course of the proceedings;
(d) "extraordinary receivables": superstitious receivables secured by a special privilege or a mortgage and creditor claims;
(e) " ordinary superstitious claims " : superstitious claims other than extraordinary superstitious claims;
(f) "proprietary creditor": the person in the head of which the qualities of holder of a superstitious debt and owner of a tangible property that is not in his possession and serves as a guarantee;
(g) "regular supersit creditor": the person who holds an ordinary excess debt;
(h) "extraordinary creditor": the person who holds an extraordinary superstitious debt;
(i) "principal institution": the centre of the main interests of the natural person;
(j) "Notice": sending a procedural act in original or in copy;
(k) "opening of the proceedings": the judgment declaring the reorganization procedure open;
(l) "reorganization plan": the plan prepared by the debtor during the stay referred to in section 47;
(m) "head office": the statutory seat referred to in section 3.1 of Council Regulation (EC) No. 1346/2000 of 29 May 2000 on insolvency proceedings;
(n) "significance": the delivery of an act electronically or materially;
(o) "sentence": a moratorium granted by the court to the debtor in order to achieve one of the purposes referred to in Article 16;
(p) "court": the competent trade tribunal.
Art. 3. This Act applies to the following debtors: merchants referred to in section 1^er of the Commercial Code, the agricultural society referred to in Article 2, § 3, of the Code of Companies and civil society in commercial form referred to in Article 3, § 4, of the same Code.
Art. 4. This Act is not applicable to commercial civil societies that have the capacity of a liberal profession as defined in section 2, 1°, of the Act of 2 August 2002 on misleading advertising and comparative advertising, abusive clauses and remote contracts with respect to liberal professions, or in the form of which holders of a liberal profession operate.
Art. 5. All court decisions set out in this Act are enforceable by provision.
Unless otherwise provided, court decisions are subject to appeal in the manner and within the time limits provided for in the Judicial Code.
When this Act provides that decisions are published by extract to the Belgian Monitor, the deadlines begin to run from the date of publication.
Sections 50, paragraphs 2, 55 and 56 of the Judicial Code are not applicable to the actions and meanings provided for in this Act.
Any interested person may intervene in the proceedings provided for in this Act, in accordance with articles 812 to 814 of the Judicial Code.
In the absence of such an intervention, a person who, at his or her initiative or the court's initiative, is heard or filed a written statement to make comments, to make an application or to articulate means, does not, therefore, acquire the quality of a party.
By derogation from articles 1025, 1026, 1027 and 1029 of the Judicial Code, the applications referred to in this Act may be signed by the debtor alone or by his lawyer and the decisions of the court shall be pronounced in public hearings.
Art. 6. The notices to which the clerk makes under this Act shall be by judicial fold.
When this law prescribes a publication to the Belgian Monitor, it shall be notified.
A notification shall be made by regular mail or by e-mail to the electronic judicial address, or, in the cases provided by law, by fax or in the form prescribed by law.
A service takes place by exploit of judicial officer.
Art. 7. Except where an amendment or derogation arises from a specific text of this Act, the purpose of this Act is not to amend or derogate from previous laws.
PART 2. - Data collection and commercial surveys
CHAPTER 1^er. - Data collection
Art. 8. The relevant information and data concerning debtors who are in financial difficulties such as business continuity may be put at risk, including those obtained under the provisions of this Title, shall be kept up to date at the office of the borough court in which the debtor has its principal place of business or head office.
The Crown Prosecutor and the debtor concerned may at any time be aware of the data being collected without displacement. The latter has the right to obtain, by request addressed to the court, the rectification of the data concerning him.
In accordance with the terms established by the King, the court may also communicate the data collected to public or private bodies designated or approved by the competent authority to assist enterprises in difficulty.
Art. 9. In the first ten days of each month, the central depositary sends to the president of the court of the domicile, or, if it is a merchant, the principal establishment, or, if it is a legal person, the head office of the debtor of a letter of exchange or a promissory note to order a table of proofs of accepted letters of exchange and promissory notes, recorded the previous month and whose central depositary has not been This table contains the references referred to in Article 3, 1° to 7°, of the Protest Act of June 3, 1997.
These tables remain tabled at the respective court offices where each of them is aware of them.
Art. 10. Default convictions and adversarial judgments against merchants who have not contested the principal claim must be forwarded to the court office of the jurisdiction of their principal institution or head office.
The same is true of the judgments which declare that a tenant's commercial lease is resolved, which refuses a renewal requested by the tenant or ends the management of a commercial fund.
In the month of the expiration of each quarter, the National Social Security Agency transmits a list of debtors who have no longer paid social security contributions due in the last two quarters to the court office of the jurisdiction of their principal institution or their head office. The list shows, in addition to the debtor's name, the amount due.
In the month of the expiration of each quarter, the administration of finances transmits a list of debtors who have no longer paid the A.T. or the professional pre-payment due for two quarters to the office of the court of the jurisdiction of their principal institution or their head office. The list shows, in addition to the debtor's name, the amount due.
The King may authorize or impose the sending of any information from the public authorities to the office of the court of the principal institution or head office and may be required for the court to assess the financial status of the enterprises.
Art. 11. After the advice of the management committee and the monitoring committee, the King may take the necessary steps to allow the processing, according to a logical structure, of the data collected and to guarantee consistency and confidentiality in the various court offices. In particular, it can determine the categories of data to be collected.
The King may also, after the advice of the same committees and by order deliberately in the Council of Ministers, allow the automated processing of data collection and determine the modalities. It can thus allow the cross-section of data files, in order to better understand the payment difficulties experienced by a debtor.
CHAPTER 2. - Commercial investigation chambers
Art. 12. § 1^er. The Chambers of Commercial Investigation, referred to in Article 84, paragraph 3, of the Judicial Code, shall monitor the situation of debtors in difficulty with a view to promoting the continuity of their business or activities and ensuring the protection of the rights of creditors.
In the commercial boards of inquiry, the examination is entrusted either to a judge in the court, the president except, or to a consular judge.
When the judge considers that the business continuity of a debtor is threatened, he or she may call and hear the debtor in order to obtain any information regarding the status of his or her business and about possible reorganization measures.
The summons shall be sent to the clerk's due diligence, the domicile of the debtor or his head office. The investigation took place in private. The debtor appears in person, possibly assisted by the persons of his choice.
In addition, it is permissible for the judge to collect all the data necessary for his investigation. It may hear any person whose hearing it considers necessary, even outside the presence of the debtor, and order the production of any useful documents. The debtor may produce any other documents of his choice.
The judge may also depart from the premises of the principal institution or head office if the debtor fails to appear twice.
§ 2. The Crown Prosecutor and the debtor may, at any time, obtain the data collected during the investigation and the report referred to in paragraph 4.
Within the first ten days of each month, a list of examinations commenced on the basis of this article shall be communicated to the King's Prosecutor at the diligence of the Registrar.
§ 3. In accordance with the terms established by the King, the court may exchange the data collected with public or private bodies designated or approved by the competent authority to assist enterprises in difficulty.
§ 4. When the judge completes the review of the debtor's situation, he prepares a report containing the transactions carried out during that review and his conclusions. This report is attached to the data collected.
§ 5. If it appears from the examination of the debtor's situation that the debtor is in a state of bankruptcy or that it meets the conditions for the application of section 182 of the Code of Companies, the Commercial Investigation Board may communicate the file to the Crown Prosecutor.
§ 6. Members of the Commercial Investigation Board who examined the debtor's situation do not sit within the framework of a bankruptcy, reorganization of the court or liquidation of the debtor.
CHAPTER 3. - Conservative measures
Art. 13. When the debtor so requests, the court president may appoint a business mediator to facilitate the reorganization of the business.
If the debtor is the subject of a commercial investigation and has been summoned by the judge in accordance with Article 12, § 1^er, the application is addressed to the Commercial Investigation Board.
The request for the appointment of a mediator is not subject to any formal rule and may be formulated orally.
The president of the court or the commercial board of inquiry who accedes to the debtor's request, shall, by order in the board's chamber, determine the extent and duration of the mediation mission within the limits of the debtor's request.
The business mediator's mission ends when the debtor or mediator decides. The most diligent party informs the president of the court that the mission ended.
Art. 14. When serious and characterized breaches of the debtor or its organs threaten the continuity of the business in difficulty and the measure sought is of a nature to preserve this continuity, the president of the court, seized by any interested person according to the forms of the referee, may designate one or more legal agents for that purpose.
The order that designates the agent of justice accurately justifies and determines the extent and duration of his or her mission.
PART 3. - The friendly deal
Art. 15. The debtor may propose to all its creditors or to two or more of them a friendly agreement for the remediation of its financial situation or the reorganization of its business.
The parties freely agree with the content of this agreement, which does not oblige third parties.
Sections 17, 2°, and 18 of the Bankruptcy Act of 8 August 1997 are not applicable to the amicable agreement or to the acts performed pursuant to that agreement, if the agreement states that it is concluded for the purpose referred to in paragraph 1^er and shall be deposited in the court office and kept therein in a register.
Third parties may only be aware of the agreement and informed of its deposit with the express consent of the debtor. This provision leaves entire obligations to consult and inform workers or their representatives in accordance with the legal or treaty provisions in force.
PART 4. - Judicial reorganization
CHAPTER 1^er. - General provisions
Section 1^re. - Objectives of the procedure
Art. 16. The purpose of the judicial reorganization procedure is to preserve, under the supervision of the judge, the continuity of all or part of the enterprise in difficulty or its activities.
It allows the debtor to be suspended in order to:
-to allow the conclusion of a friendly agreement in accordance with Article 43;
- either to obtain the creditor agreement on a reorganization plan, in accordance with Articles 44 to 58;
- to permit the transfer under the authority of justice, to one or more thirds, of all or part of the enterprise or its activities, in accordance with sections 59 to 70.
The application may pursue a specific objective for each activity or part of activity.
Section 2. - Application for judicial reorganization and subsequent proceedings
Art. 17. § 1^er. The debtor who requests the commencement of a judicial reorganization procedure shall apply to the court.
§ 2. He joins his request:
1° a presentation of the events on which the application is based and which it appears that, in its opinion, the business continuity is threatened at short notice or in term;
2° the indication of the objective or objectives for which it seeks the opening of the reorganization procedure;
3° the mention of the electronic judicial address referred to in Article 46 of the Judicial Code and to which it may be contacted;
4° the last two annual accounts or, if the debtor is a natural person, the last two tax returns of natural persons;
5° a record of its assets and liabilities and a results account do not last more than three months. The small companies referred to in section 15 of the Corporate Code disclose their results account according to the complete scheme;
6° a cash forecast for the duration of the stay at least;
7° a complete list of recognized or claiming superstitious creditors, with mention of their name, address and the amount of their debt and with specific mention of the quality of extraordinary superstitious creditor.
8° if it is able to formulate them, the measures and proposals it envisages to restore the profitability and solvency of its business, to implement a possible social plan and to satisfy creditors;
9° the indication that the debtor has met the legal and treaty obligations of information and consultation of workers or their representatives;
10° any other documents that the debtor considers useful in supporting the application.
§ 3. The request is signed by the debtor or his lawyer. It is filed at the court office, with the relevant documents. The clerk delivers an acknowledgement of receipt.
Within twenty-four hours of the filing of the request, the Registrar shall notify the Crown Prosecutor, who may attend all proceedings of the proceedings.
The court may attach to the record of the proceedings the report prepared by the Commercial Investigation Board in accordance with Article 12, § 4.
§ 4. If he is not in a position to attach to his request the documents referred to in paragraph 2, 5° to 9°, the debtor shall file them on the record of the judicial reorganization within 14 days of the filing of his request.
Art. 18. In all cases, the chair of the court shall designate as soon as the application is filed, a delegated judge who is, either a judge in the court, the presiding officer, or a consular judge, to report to the court chamber before the case on the admissibility and the basis of the application and any usefulness to the court's judgment.
The court shall designate a delegated judge in the case referred to in Article 59, § 2, with the mission that this article specifies.
The delegated judge hears the debtor and any other person he or she considers the effective hearing in his or her investigation. He may request from the debtor any information required to assess his situation.
Art. 19. The delegated judge shall ensure compliance with this Act and inform the court of the evolution of the debtor's situation.
It pays particular attention to the formalities provided for in articles 17, 26, paragraphs 2, 44 and 46, § 6.
Except as provided in section 40 of Council regulation 1346/2000/(EC) of 29 May 2000 on insolvency proceedings, the debtor may not be notified of any individual notification, and in such case, by order, what equivalent measure of advertising is required.
Art. 20. At the Registry, a record of the reorganization of the court is held, which contains all the elements relating to the proceedings and the merits of the case.
Any creditor and, on the authorization of the delegated judge, any person who may justify a legitimate interest may have access to the file free of charge and obtain a copy of the file for payment of the transplant fees, if a material copy is issued.
The filing of a title by the creditor on the record of the judicial reorganization interrupts the prescription of the debt. It is also worthwhile.
However, the delegated judge may decide that the file will be accessible in whole or in part by electronic means, in accordance with the terms and conditions it determines.
Art. 21. Where there are serious, precise and consistent presumptions of the detention, by the applicant or a third party, of a document containing evidence of the conditions for obtaining the commencement of a judicial reorganization procedure or other decisions that may be taken during the proceedings or by application of section 59, § 2, the court may order, at the request of any interested person, that the attached document, or a certified copy thereof,
The court shall decide in accordance with the procedure provided for in articles 878 to 881 of the Judicial Code.
Art. 22. As long as the court has not ruled on the application for judicial reorganization, whether the action has been introduced or the way of execution commenced before or after the application is filed:
- the debtor may not be declared bankrupt and, in the case of a corporation, the debtor may not be dissolved judicially;
- no realisation of the debtor's movable or immovable property may occur as a result of the exercise of a course of execution.
Section 3. - Conditions for the opening of the judicial reorganization procedure
Art. 23. The procedure for judicial reorganization is open as soon as the business continuity is threatened, at short notice or in term, and the request referred to in Article 17, § 1 was filed.^er.
The absence of the parts referred to in Article 17, § 2, does not hinder the application of Article 59, § 2.
When the debtor is a legal entity, the business continuity is in any case presumed to be threatened if the losses reduced the net assets to less than half of the social capital.
If the application arises from a debtor who has already sought and obtained the opening of a judicial reorganization procedure less than three years earlier, the judicial reorganization procedure can only be opened if it tends to transfer, under judicial authority, all or part of the enterprise or its activities.
The bankruptcy of the debtor does not in itself hinder the opening or continuation of the judicial reorganization procedure.
Section 4. - Judgment on the application for judicial reorganization and its consequences
Art. 24. § 1^er. The court shall review the application for judicial reorganization within ten days of its filing at the office of the court.
Unless he renounced the summons, the debtor shall be summoned by the clerk no later than three frank days before the hearing.
The debtor is heard in the board's chamber, unless he has expressly expressed his will to be heard in public hearing.
The delegated judge heard in his report, the court ruled by judgment within eight days of the examination of the application.
§ 2. If the conditions referred to in Article 23 appear to be met, the court shall declare the procedure for judicial reorganization and shall determine the duration of the stay referred to in Article 16, which shall not exceed six months; Otherwise, the court rejects the application.
§ 3. Where the purpose of the reorganization procedure is to obtain the agreement of creditors on a reorganization plan, the court shall, in the judgment by which it declares open this procedure, or in a subsequent judgment, the place, day and time where, unless the stay is extended, the hearing to which the vote on this plan will be taken and held on the registration.
Art. 25. The Registry shall inform the President of the Court of any rejection of an application for judicial reorganization.
Art. 26. § 1^er. The judgment which declares the judicial reorganization proceedings open is, at the diligence of the clerk and within five days of its date, published by extract to the Belgian Monitor.
The extract mentions:
1° if it is a natural person, the name, first name, place and date of birth, the nature of the main commercial activity and the name under which this activity is exercised, the address as well as the place of the principal establishment and the business number of the debtor to the Bank-Carrefour des entreprises; if it is a legal person, the name, form, nature of the activity carried out and the name under which that activity is carried out, the head office, the place of the principal establishment and the business number;
2° the date of the judgment which declares open the procedure of judicial reorganization and the court that rendered it;
3° the names and names of the delegated judge and, where appropriate, those of the legal agents designated under articles 27 and 28, with their address;
4° the expiry of the stay and, where applicable, the place, day and time fixed to decide on an extension of the stay;
5° where applicable and if the court can already determine them, the place, day and time fixed for the vote and the reorganization decision.
§ 2. The debtor shall notify creditors individually of such data within fourteen days of the judgment.
§ 3. The judgment which rejects the application is notified to the appellant by judicial fold.
Art. 27. § 1^er. When the debtor makes the request and, where such a designation is useful for the purposes of the judicial reorganization procedure, the court may, by the same decision or at any other time of the proceedings, appoint a judicial representative to assist the debtor in his judicial reorganization, in which case the court shall determine the mission on the basis of the debtor's request.
§ 2. The same request may be made by a third party of interest. The application is filed by a contradictory request notified by the clerk's care to the debtor. The request specifies the complainant ' s proposed mission and provides that the complainant shall pay the costs and fees of the justice agent.
§ 3. Notifications sent to the debtor by the Registrar shall be communicated in a copy to that agent.
Every time the debtor's hearing is prescribed, the agent is heard in his or her observations.
Art. 28. § 1^er. In the event of a serious and characterized or manifest bad faith of the debtor or of any of its organs, the court may, at the request of any interested person or public prosecutor and in the judgment that opens the procedure for judicial reorganization or in a subsequent judgment, the debtor heard and the delegated judge heard in his report, substitute for them for the duration of the stay a provisional administrator responsible for administering the business of the natural person or the legal person.
At any time during the period of stay, the court, in the same manner and after hearing the debtor, the delegated judge in his report, and the provisional administrator, may withdraw the decision made pursuant to the first paragraph or this paragraph, or amend the powers of the provisional administrator.
These decisions are published in accordance with Article 26, § 1^erand notified in accordance with Article 26, § 3.
§ 2. The judgements rendered pursuant to paragraph 1^er are not subject to opposition.
§ 3. The appeal is filed by request filed at the Court of Appeal Registry within eight days of the notice of the judgment. The Clerk of the Court of Appeal notifies the request under judicial fold to the eventual intimidated party and, if applicable, by ordinary fold to his lawyer, no later than the first working day following the filing of the request.
Art. 29. The ruling on the application for the opening of the judicial reorganization procedure is not subject to opposition.
The appeal is filed by request filed at the Court of Appeal Registry within eight days of the notice of the judgment. The Clerk of the Court of Appeal notifies the request under judicial fold to the eventual intimidated party and, if applicable, by ordinary fold to his lawyer, no later than the first working day following the filing.
If the judgment rejects the request, the appeal is suspensive.
Section 5. - Effects of reorganization decision
Art. 30. No way of executing excess claims may be prosecuted or exercised on the debtor's movable or immovable property during the stay.
During the same period, the debtor who has the quality of a merchant cannot be declared bankrupt and, in the case of a corporation, it cannot be dissolved judicially.
Art. 31. No seizure can be performed by the head of sursitious claims during the stay.
The seizures already practised earlier retain their conservative character, but the court may, under the circumstances and to the extent that this release does not impose a significant harm to the creditor, release it after hearing the delegated judge in his report, as well as the creditor and the debtor.
Art. 32. The stay does not affect the fate of the receivables specifically for third parties.
Art. 33. The stay does not constitute an obstacle to the voluntary payment of excessive claims by the debtor.
Without prejudice to articles 2043bis to 2043octies of the Civil Code, the stay does not benefit the co-debiters or personal security debtors.
The direct action instituted by Article 1798 of the Civil Code is not hampered by the judgment which declared open the judicial reorganization of the contractor, nor by the decisions taken by the court during the latter or taken by application of Article 59, § 2.
Sections 17, 2°, and 18 of the Bankruptcy Act of 8 August 1997 are not applicable to payments made during the stay period.
Art. 34. Without prejudice to the application of the Financial Security Rights Act of 15 December 2004 and the provision of various tax provisions in respect of conventions constitutive of security rights and loans relating to financial instruments, compensation shall not be permitted during the stay between claims and claims arising during the stay only if these claims are related.
Art. 35. § 1^er. Notwithstanding any contractual provisions that are contrary, the application or opening of the judicial reorganization procedure does not terminate existing contracts or the terms and conditions of their execution.
The contractual default committed by the debtor before the stay is granted may not base the creditor to terminate the contract when the debtor terminates the breach within fifteen days after it has been put into rest for that purpose by the sursitaire creditor.
§ 2. The debtor, however, may, even in the absence of a contractual provision in this sense, decide not to execute an ongoing contract during the period of the stay, by notifying this decision to the contracting parties in accordance with Article 26, § 2, provided that such non-performance is necessary in order to propose a reorganization plan to the creditors or to make the transfer under judicial authority possible.
When the debtor decides not to execute a contract in progress, the damage to which the contractor may claim is a superstitious debt.
The possibility under this section does not apply to employment contracts.
§ 3. The penal clauses, including the clauses for the increase in the interest rate, aiming to cover the potential damages incurred as a result of non-compliance with the principal undertaking, remain ineffective during the stay period and until the full implementation of the reorganization plan with respect to the creditors included in the plan. The creditor may, however, include in its overstitling the actual damage incurred as a result of non-compliance with the principal undertaking, which in turn leads to the final waiver of the application of the criminal clause, even after the full execution of the reorganization plan.
The same is true when the debtor, being a merchant, is declared bankrupt or when the debtor, being a corporation, is liquidated after the early end of the judicial reorganization proceedings in accordance with Article 40.
Art. 36. A debt arising out of successive contracts is not subject to a stay, including interest, as it relates to benefits made after the notice of commencement of the proceedings.
Art. 37. To the extent that the receivables relate to benefits made in respect of the debtor during the reorganization proceedings, whether arising from new commitments of the debtor or ongoing contracts at the time of the commencement of the proceedings, they are considered to be mass debts in a bankruptcy or subsequent liquidation that occurred during the reorganization period or at the end of the proceedings, to the extent that there is a close link
Where applicable, the contractual, legal or judicial compensation for which the creditor claims payment as a result of the termination of the contract or its non-performance is prorated on the basis of their relationship with the prior period or after the commencement of the proceedings.
Payment of receivables will, however, be taken by priority from the proceeds of real property on which a real right is established only, since these benefits have contributed to the maintenance of security or property.
Section 6. - Extension of stay
Art. 38. § 1^er. Upon request of the debtor and on the report of the delegated judge, the court may extend the stay granted in accordance with Article 24, § 2, or this Article for the duration it determines.
The maximum duration of the stay so extended shall not exceed twelve months from the judgment granting the stay.
§ 2. In exceptional circumstances and if the interests of the creditors permit, this period may be extended by a maximum of six months.
In particular, may be considered exceptional circumstances within the meaning of this provision, the size of the enterprise, the complexity of the case or the importance of the job that can be safeguarded.
§ 3. Decisions rendered under this section are not subject to opposition or appeal.
Section 7. - Modification of the purpose of the procedure
Art. 39. At any time during the stay, the debtor may ask the court:
1° if he has sought the procedure of reorganization in order to obtain an amicable agreement and that it does not appear feasible, that the procedure be pursued to propose a reorganization plan or to consent to a transfer, under the authority of justice, of all or part of the enterprise or its activities, in which case the procedure is continued for that purpose;
2° if he requested the judicial reorganization procedure to propose a reorganization plan and that it does not appear feasible, that he consents to the principle of a transfer, under the authority of justice, of all or part of the enterprise or its activities, in which case the procedure is continued to ensure that the transfer is made.
The judgment that passes this application is published and notified in accordance with Article 26, § 1^er and § 3. The judgment that rejects the request is notified to the debtor.
Section 8. - Early termination and closing of proceedings
Art. 40. The debtor may, at any stage of the proceedings, renounce in whole or in part his application for judicial reorganization, in charge of fully fulfilling his obligations under the conditions and in accordance with the terms agreed with the creditors concerned with the waiver, if partial, or with all his creditors, if complete.
The court, at the request of the debtor and the delegated judge heard in his report, terminates the proceedings in whole or in part by a judgment that closes it.
The judgment is published in accordance with the terms provided for in Article 26, § 1^erand communicated to the creditors concerned in accordance with Article 26, § 2.
Art. 41. § 1^er. Where the debtor is clearly no longer in a position to ensure continuity of all or part of his or her business or business with respect to the purpose of the proceedings, the court may, from the thirtieth day of the filing of the application and until the reorganization plan is filed on the record of the proceedings, order the early termination of the reorganization procedure by a judgment that closes it.
The court shall decide on the request of the debtor or on the summons of the public prosecutor or any interested person against the debtor, the delegated judge shall hear in his report.
The court ordering the early termination of the judicial reorganization procedure may, by the same judgment, pronounce the bankruptcy of the debtor or, in the case of a society, the judicial liquidation, where the summons also tends to that end and the conditions are met.
§ 2. If the debtor has not filed the documents referred to in Article 17, § 2, 1° to 9°, within fourteen days of the filing of his request, the court may decide on the end of the procedure of judicial reorganization after hearing the debtor in his capacity and the judge delegated in his report, and, if any, the workers or their representatives who should have been heard under the legal or treaty provisions relating to the worker.
§ 3. The judgment is published in accordance with the terms provided for in Article 26, § 1^erand notified by judicial fold to the debtor.
Art. 42. As soon as the judgment is pronounced, which orders the early termination of the proceedings in judicial reorganization or the closure of the proceedings, the stay ends and the creditors regain full exercise of their rights and actions.
The same applies if the stay expires without having been extended by application of articles 38 or 60 or without the closure of the procedure by application of articles 40 and 41.
CHAPTER 2. - Judicial reorganization by friendly agreement
Art. 43. When the judicial reorganization procedure tends to the conclusion of an amicable agreement with all its creditors or with two or more of them, the debtor pursues this objective under the supervision of the delegated judge and, where applicable, with the assistance of the judicial representative designated by application of section 27.
On an adversarial request from the debtor, the court may grant moderate delays referred to in article 1244 of the Civil Code.
In the event of an agreement, the court, ruling on the debtor's request and the report of the delegated judge, notes this agreement and closes the proceedings.
The judgment shall be published in the manner prescribed in Article 26, § 1^er.
The parties to the agreement shall remain held by the agreement as long as it is not terminated in accordance with the common contract law.
The provisions of articles 17, 2°, and 18 of the Bankruptcy Act of 8 August 1997 are not applicable to such an agreement or to the acts carried out in its execution.
This article leaves entire obligations to consult and inform workers or their representatives in accordance with the legal or treaty provisions in force.
CHAPTER 3. - Judicial reorganization by collective agreement
Art. 44. Where the purpose of the reorganization procedure is to obtain the agreement of creditors on a reorganization plan, the debtor shall file a plan at the office of the court at least fourteen days before the hearing set out in the judgment referred to in Article 24, § 3.
Art. 45. In the same case, the debtor shall communicate to each of its superseding creditors, within fourteen days of the judgment which declares open this procedure, the amount of the debt for which the creditor is registered in his books, accompanied, to the extent possible, of the mention of the property encumbered by a security right or a particular privilege guaranteeing that debt or property owned by the creditor.
This communication may be made simultaneously in the opinion provided for in Article 26, § 2.
Art. 46. § 1^er. Any sursitary creditor who contests the amount or quality of the debtor's claim and any other person who claims to be a creditor may, in the event of persistent disagreement with the debtor, bring the dispute before the court which has opened the procedure for judicial reorganization, in accordance with articles 700 to 1024 of the Judicial Code.
§ 2. Any superstitious receivable on the list referred to in Article 17, § 2, 7°, as amended if applicable by application of § 3, may be contested in the same way by any interested person. The action is directed against the debtor and the disputed creditor.
The court shall decide on the report of the delegated judge, after hearing the interested third party, the disputed sursity creditor and the debtor.
§ 3. If the dispute is not within the jurisdiction of the court, the court shall determine the amount and quality for which the claim will be provisionally admitted in the proceedings of the judicial reorganization and shall refer the parties to the competent court to decide on the merits. If the dispute falls within the jurisdiction of the court, but the decision on the dispute may not take place within a short period of time, the court may also determine that amount and quality.
§ 4. On the report of the delegated judge, the court may at any time, in the event of absolute necessity and on a unilateral request of the debtor or a creditor, modify the decision determining the amount and quality of the sursitious debt on the basis of new elements.
§ 5. The judgment that determines the amount and quality of the provisionally admitted receivable is not subject to appeal.
§ 6. Where applicable, the debtor shall correct or complete the list of creditors referred to in Article 17, § 2, 7°, and shall file it with the Registry no later than eight days before the hearing provided for in Article 54. The Registrar shall bear the list and the corrected or completed data on the record of the reorganization.
Art. 47. § 1^er. During the stay, the debtor develops a plan composed of a descriptive part and a prescriptive part. He attached this plan to the record of the judicial reorganization referred to in Article 20.
Where applicable, the court-appointed justice agent by application of section 27 assists the debtor in the development of the plan.
§ 2. The descriptive part of the plan describes the state of the company, the difficulties it encounters and the means to be implemented to remedy it.
It includes a report prepared by the debtor on claims disputes, which would inform the persons concerned about their scope and foundation.
It specifies how the debtor intends to restore the profitability of the business.
§ 3. The prescriptive part of the plan contains the measures to be taken to disinterest the excess creditors on the list referred to in Articles 17, § 2, 7°, and 46.
Art. 48. The reorganization plan describes the rights of all persons who hold:
- excessive claims;
- receivables arising from the vote or registration of the reorganization plan,
whatever their quality, the security or personal security that guarantees them, the special or general privilege of which the debt is matched, or the fact that the holder has the quality of the creditor-owner or other quality.
Art. 49. The plan outlines the payment deadlines and discounts of capital and proposed interest surplus receivables. It may provide for the conversion of receivables to shares and the differentiated settlement of certain categories of receivables, particularly depending on their extent or nature. The plan may also provide for a waiver of interest or rescheduling of the payment of such interest, as well as the priority imputation of the amounts realized on the principal amount of the receivable.
The plan may also contain the assessment of the consequences that the approval of the plan would result in for the creditors concerned.
It may still provide that sursitary claims cannot be compensated with debts of the holder creditor after the registration. Such a proposal may not relate to related claims or claims that may be compensated under a convention prior to the commencement of the reorganization procedure.
When the business continuity requires a reduction in the payroll, a social component of the reorganization plan is planned, since such a plan has not yet been negotiated. Where applicable, the latter may provide for terminations.
During the development of this plan, staff representatives within the business council or, if not, the committee for prevention and protection at work, or, if not, the union delegation or, if not, a staff delegation, will be heard.
Art. 50. Without prejudice to the payment of the interests that are conventionally or legally due to their claims, the plan may provide for the suspension of the exercise of the existing rights of extraordinary superseded creditors for a period not exceeding twenty-four months from the date of filing of the request.
Under the same conditions, the plan may provide for an extraordinary extension of this stay for a period not exceeding twelve months. In this case, the plan provides that, at the end of the first period of stay, the debtor shall submit to the court, his or her creditor heard, the evidence that the financial situation and the foreseeable income of the undertaking shall, according to the reasonable forecasts, so that, at the expiry of that additional period, the debtor shall fully reimburse the extraordinary creditors concerned, and that, if it fails to provide such proof, the debtor shall intend to order it.
Except for their individual consent or amicable agreement entered into in accordance with Article 15 or 43, a copy of which is attached to the plan at the time of its filing in the Registry, the plan may not include any other measure affecting the rights of such creditors.
Art. 51. The voluntary transfer of all or part of the enterprise or its activities may be provided for in the reorganization plan.
Art. 52. The time limit for the plan shall not exceed five years from its approval.
Art. 53. As soon as the plan is deposited in the Registry, the superseded creditors on the list referred to in Articles 17, § 2, 7°, and 46 receive, through the clerk's care, a communication indicating:
- that this plan is under review and that they may consult it, without displacement, at the court office;
- the place, day and time of the hearing to which the vote will be taken on this plan, and to be held at least fourteen days after that communication;
- that they may make submissions at the hearing, either in writing or orally, on the proposed plan;
- that only superstitious creditors whose plan affects the rights may vote.
The delegated judge may decide that co-debiters, bonds and other personal security rights will also receive this communication and that they may, in the same way, make their comments.
The debtor shall inform the representatives of the workers referred to in article 49, last paragraph, of the contents of the plan.
Art. 54. On the day indicated to the creditors in accordance with Article 26, § 1^er, paragraph 2, 5°, and section 53, the court shall hear the delegated judge in his report, as well as the debtor and creditors in their means.
The reorganization plan shall be held to be approved by the creditors when the election collects the favourable vote of the majority of the creditors, representing by their uncontested or provisionally admitted claims, in accordance with Article 46, § 3, half of all amounts due in principal.
Creditors who did not participate in the vote and the claims they hold are not taken into account in calculating the majority.
Art. 55. In the fourteen days of the hearing, and in any case before the expiry of the stay fixed by application of Articles 24, § 2, and 38, the court decides whether or not it approves the reorganization plan.
The registration may only be refused in the event of failure to comply with the formalities required by this Act or for violation of public order.
It may not be subordinated to any condition that is not provided for in the plan or make any amendments thereto.
Subject to the challenges arising from the execution of the plan, the ruling on the registration closes the reorganization procedure.
It is published by extract to the Belgian Monitor by the clerk.
Art. 56. The ruling on the application for registration is not subject to opposition.
The appeal is filed by request filed at the Court of Appeal Registry within eight days of the notice of the judgment and is directed against the debtor or against the creditors, as the case may be. The Clerk of the Court of Appeal shall notify the defendants and, where appropriate, their lawyer, on the first business day following the filing of the complaint.
If the judgment refuses registration, the appeal is suspensive.
Art. 57. The registration of the reorganization plan makes it binding for all supersited creditors.
Deficited claims, but legally recognized after registration, are paid in accordance with the terms and conditions for claims of the same nature. In no case can the execution of the reorganization plan be totally or partially suspended as a result of the decisions on the challenges.
The superstitious claims that have not been filed in the list referred to in Article 17, § 2, 7°, as amended, if any, by application of Article 46, and that have not given rise to a dispute, are paid after the full execution of the plan in accordance with the terms provided for in the same-kind claims. If the creditor has not been properly informed during the stay, it will be paid in accordance with the terms and to the extent provided for in the approved plan for similar claims.
Unless the plan otherwise expressly disposes of it, the complete execution of the plan will completely and definitively release the debtor for all claims contained therein.
Without prejudice to articles 2043bis to 2043octies of the Civil Code, the plan does not benefit co-debiters or persons who have constituted personal security rights.
Art. 58. Any creditor may, by summons from the debtor, request the revocation of the reorganization plan when it is not executed on an ad hoc basis, or when it demonstrates that it cannot be otherwise and that it will be harmed.
The King's Prosecutor may request revocation in the same manner when he finds the incompetent of all or part of the plan.
The court shall rule on the report of the delegated judge, the debtor heard. The judgment revoking the plan is published by extract to the Belgian Monitor by the clerk. The debtor communicates the contents of this extract to all its creditors.
The revocation of the reorganization plan deprives the reorganization of any effect, except in respect of the payments and transactions already carried out, including the transfer already made from all or part of the enterprise or its activities.
CHAPTER 4. - Judicial reorganization by transfer under judicial authority
Art. 59. § 1^er. The transfer under judicial authority of all or part of the enterprise or its activities may be ordered by the court in order to ensure that the debtor consents to it in its application for judicial reorganization or later during the proceedings.
If the debtor consents to the transfer under the authority of justice during the proceedings, staff representatives within the board of business or, if not, the committee for prevention and protection at work, or, if not, the union delegation, or, if not, a delegation of staff, will be heard.
§ 2. The same transfer may be ordered by the Crown Prosecutor, a creditor or any person interested in acquiring all or part of the undertaking:
1° where the debtor is in a state of bankruptcy without having requested the opening of a judicial reorganization procedure;
2° where the court rejects the application for the opening of the proceedings by application of section 23, orders the advance termination by application of section 41 or revokes the reorganization plan by application of section 58;
3° where creditors do not approve the reorganization plan under section 54;
4° where the court refuses the registration of the reorganization plan under section 55.
The request for transfer may be made in the summons for an early termination of the reorganization procedure or a revocation of the reorganization plan, or in a separate exploit directed against the debtor.
§ 3. When ordering the transfer by the same judgment as the person who rejects the application for the opening of the judicial reorganization procedure, orders the advance termination, revokes the reorganization plan, or refuses the registration, the court shall rule on the report of the delegated judge and the charge to report to him on the execution of the transfer.
When ordering the transfer by another judgment than the one that terminates the stay, the court shall appoint a judge to the court, the presiding officer, or a consular judge to report on the execution of the transfer.
§ 4. The provisions of this article leave entire obligations to consult and inform workers or their representatives in accordance with the legal or treaty provisions in force.
Art. 60. The judgment ordering the transfer is a justice agent responsible for organizing and realizing the transfer on behalf of the debtor. It determines the purpose of the transfer or leaves it to the appraisal of the justice agent.
The court may, by the same judgment, order a further stay, not exceeding six months from its decision, with the effects set out in sections 30 to 37.
The judgment is published by extract to the Belgian Monitor by the official of justice appointed.
Art. 61. § 1^er. Without prejudice to the provisions of the following paragraphs, the rights and obligations resulting from the transferor of existing contracts at the time of the transfer of the undertaking are, as a result of the transfer, transferred to the assignee.
§ 2. The assignee and the assignor or the justice agent and all organizations represented in the union delegation may agree, within the framework of a collective bargaining procedure, to amend the working conditions to preserve employment by ensuring, in whole or in part, the survival of the business or its activities.
The assignee and workers may also agree to amend the individual work contract, provided that these amendments are mainly related to technical, economic or organizational reasons and provided that these amendments do not impose any heavier obligations on the assignee than those arising from collective bargaining.
§ 3. The assignor or the legal agent shall in writing inform the assignee candidate of all obligations relating to the workers involved in the transfer and of any ongoing actions that these workers would have brought against the employer.
At the same time, it shall notify individual workers of their obligations and provide a copy of that notification to the assignee.
The assignee may not be bound to obligations other than those communicated in writing. If the data is incorrect or incomplete, the worker is entitled to claim damages to the assignor. The Labour Court is aware of these actions and urgently decides.
When the transfer is made at the request of a third party or the Public Prosecutor's Office, the debts existing at the date of the transfer and arising out of the existing contracts of work at that date are not transferred to the assignee, provided that the payment of these debts is legally guaranteed by the Workers' Compensation Fund terminated in the event of the closure of enterprises within the limits applicable to its intervention, set out in the law on the closure of enterprises.
§ 4. The choice of workers he wishes to take over belongs to the assignee. This choice must be dictated by technical, economic and organizational reasons and be made without any prohibited differentiation, especially on the basis of the activity carried out as a representative of staff in the transferred business or business.
The absence of a prohibited differentiation in this respect is deemed to be established if the proportion of workers and their representatives who were active in the transferred company or part of the business and who are chosen by the assignee is respected in the total number of workers chosen.
§ 5. The assignee, the assignor or the agent of justice may request, by request to the Labour Court of the head office or the principal establishment of the debtor, the approval of the proposed transfer to the extent that the transfer agreement relates to the rights established in this article. The proposed transfer means in this article, in addition to the transfer itself, the list of workers to be resumed or resumed, the fate of labour contracts, the fixed working conditions and the debts.
The Labour Court ruled urgently after hearing the workers ' representatives and the complainant. Workers who challenge the notification referred to in paragraph 3 are referred to by the assignor or the court representative to appear before the Labour Court at the same hearing.
If the registration is granted, the assignee may not be bound to any obligations other than those contained in the document whose registration has been requested.
§ 6. The provisions of this Article shall apply to the ratification by the King of a collective labour agreement entered into by the National Labour Council and more accurately regulating the rights of workers involved in a transfer of business as part of a judicial reorganization. The provisions of this collective labour agreement may waive the provisions of this article.
Art. 62. The designated agent organizes and executes the transfer ordered by the court by the sale or transfer of the necessary or useful movable or immovable assets to the maintenance of all or part of the business activity of the enterprise.
It seeks offers by ensuring, above all, the maintenance of all or part of the business activity while respecting the rights of creditors. In the event of a plurality of comparable offers, the priority is given by the court to that which guarantees the permanence of employment by a negotiated social agreement.
With this in mind, it develops one or more concomitant or successive sales projects, exposing its diligence, the conditions of the projected sale and the justification of its projects and joining, for each sale, a draft act.
He communicates his projects to the delegated judge and, by contradictory request, notified to the debtor at least two days before the hearing, he requests the court to proceed with the execution of the proposed sale.
Art. 63. If the sale relates to buildings, the draft act is established by a notary, designated by the agent of justice, and is accompanied by an evaluation report and a certificate from the mortgage curator, after the opening of the reorganization procedure, referring to existing registrations and any transcript of command or seizure relating to such buildings.
When the sale relates to a building or a trade fund, all persons with an inscription or marginal mention on the building or an inscription on the trade fund are heard.
Regardless of the purpose of the sale, the justice agent summons the debtor prior to the filing of the request.
The persons referred to in paragraph 2 and the debtor may request the court, by request, that the authorization be subject to certain conditions, such as setting a minimum selling price.
Art. 64. § 1^er. On the report of the delegated judge, the court shall grant the authorization requested under section 62, paragraph 4, if the proposed sale meets the conditions set out in paragraph 2 of that section.
The court shall hear staff representatives within the board of business or, if not, within the committee for prevention and protection at work or, if not, the union delegation or, if not, a delegation of workers.
When a sales proposal contains several proposals from different buyers or with different conditions, the court decides.
If the sale relates to furniture and the proposed sale provides for public sale, the judgment designates the judicial officer who will be responsible for the sale and who will collect the price.
§ 2. The judgment authorizing the sale is published by extract to the Belgian Monitor and communicated to the creditors by the agent of justice responsible for the transfer, with the name of the notary or judicial officer designated by the court.
Art. 65. The sale must take place in accordance with the draft act admitted by the court and, if it relates to buildings, by the office of the notary who wrote it.
The price of furniture is collected by the court-appointed attorney and then distributed in accordance with articles 1627 et seq. of the Judicial Code.
The price of the buildings is collected and then distributed by the judicial officer in accordance with articles 1639 et seq. of the Judicial Code.
Art. 66. As a result of the sale of furniture or buildings, creditors' rights are deferred to the price.
Art. 67. When the designated justice agent considers that all activities that may be transferred have been, and in any case before the end of the stay, he or she requests the court by request to close the proceedings for judicial reorganization, or, if he or she is justified for other purposes, the discharge of his or her mission.
When the debtor is a legal entity, the court may, in the judgment that is entitled to this request, order the convocation of the general assembly with the dissolution on the agenda.
The court rules on the report of the delegated judge, the debtor heard.
Art. 68. The decision to close the judicial reorganization procedure discharges the assignee from all obligations other than those mentioned in the transfer act.
Art. 69. As from the judgment referred to in section 60, are suspended until the judgment referred to in section 67, paragraph 3, the means of execution of the superseding debt of the natural person who, as a free measure, constituted a personal security of the debtor.
Art. 70. The natural person whose enterprise has been transferred in its entirety by application of section 67 may be discharged by the court of existing debts at the time of the judgment ordering this transfer, if that person is unhappy and in good faith.
It may, for that purpose, file an adversarial application in the court, no later than three months after that judgment. The request is notified by the clerk to the court order.
The judgment ordering the discharge of the debtor is published by the clerk at the Belgian Monitor.
If it is discharged, the debtor can no longer be prosecuted by its creditors. The discharge does not benefit co-debiters or personal security rights, without prejudice to the application of articles 2043bis to 2043octies of the Civil Code.
PART 5. - Miscellaneous provisions
Art. 71. § 1^er. The judicial officers designated under this Act shall be chosen according to their qualities and as required by the species.
They must offer guarantees of competence, experience, independence and impartiality.
They may be designated among persons authorized by public or private bodies designated or approved by the competent authority to assist enterprises in difficulty.
§ 2. The fees and fees of judicial officers are determined by the court.
The King shall lay down the aplicable rules and scales to the judicial officers appointed under articles 27 and 60; It may determine those and those applicable to provisional directors designated by application of Article 28.
§ 3. At the request of any interested person, at the request of the judicial representative or ex officio agent, the court may at any time and as far as it may be necessary, proceed to the replacement of a judicial officer, increase or decrease the number of such persons.
Any third party request shall be directed, in the form of the referee, against the agent(s) and against the debtor.
The justice agent and the debtor are heard in the board's chamber. The decision is made in a public hearing.
PART 6. - Criminal provisions
Art. 72. The debtor is punished by imprisonment for a month to two years and a fine of 5 euros to 125,000 euros or only one of these penalties:
1° if, in order to obtain or facilitate the judicial reorganization procedure, it has, in any way, voluntarily concealed part of its assets or liabilities, or exaggerated that asset or minimized that liability;
2° if he has knowingly intervened in the proceedings one or more creditors assumed or whose claims have been exaggerated;
3° if he knowingly omitted one or more creditors from the list of creditors;
4° if he has knowingly made or allowed to make inaccurate or incomplete statements on the status of his or her cases or on the prospects for reorganization.
Art. 73. They are punished by imprisonment from one month to two years and a fine of 5 euros to 125,000 euros, those who, fraudulently, have, without being creditors, taken part in the vote provided for in article 54 or, being creditors, exaggerated their claims, and those who have stipulated, either with the debtor or with all other persons, special advantages for the meaning of their vote in the plan of reorganization or who have made
PART 7. - Amendments
Art. 74. In section 764, paragraph 1^er, 8°, of the Judicial Code, replaced by the Act of 17 July 1997, the following amendments are made:
1° the word "concordat" is replaced by the words "judicial reorganization";
2° the words "the procedures for revocation of the stay of payment" are replaced by the words "the requests for revocation of a plan of reorganization".
Art. 75. In article 1395, paragraph 1^er, the same Code, as amended by the Acts of 17 July 1997, 5 July 1998, 17 March 2003 and 13 December 2005, the words "competent with respect to judicial concordat" are replaced by the words "competent with respect to requests for judicial reorganization".
Art. 76. In section 8 of the Bankruptcy Act of 8 August 1997, the following amendments are made:
1° "When there are serious, precise and consistent clues that the bankruptcy conditions are met, and that there is an urgent need, the president of the trade tribunal may divest, in whole or in part, the merchant or trading company of the management of all or part of his property. »;
2° "In paragraph 3, the words "the merchant" are replaced by the words "the merchant or the trading company". »
Art. 77. Section 9 of the Act, as amended by the Act of 4 September 2002, is supplemented by a paragraph written as follows:
"The obligation to make this confession is suspended from the filing of a request for judicial reorganization and as long as the stay granted under the Business Continuity Act of January 31, 2009. »
Art. 78. In Article 23, § 1^er, of the Act of 16 January 2003 establishing a Bank-Carrefour des Entreprises, modernization of the trade register, creation of registered business windows and various provisions, as amended by the Act of 22 December 2003, the following amendments are made:
(a) 14° is replaced by the following:
"14° ruling on a request for judicial reorganization, or granting or extending a stay; »;
(b) the 15th is replaced by the following:
"15° closing or ending a judicial reorganization procedure, revoking a reorganization plan, or refusing approval of a reorganization plan; "
Art. 79. In the French text the title of Chapter XI of the Act of 16 July 2004 dealing with the Code of Private International Law is replaced by the following: "Insolvency Collective Procedures".
Art. 80. Section 116 of the Act is replaced by the following:
"This chapter applies to bankruptcy, reorganization and collective debt settlement procedures. »
Art. 81. In section 3 of Royal Decree No. 4 of 29 December 1969 on restitution of value added tax, replaced by the Act of 7 April 2005, the following amendments are made:
1° the second dash is replaced by the following:
" - in the event of a reorganization by collective agreement, on the date of registration by the court, with respect to the claims of which the slaughter is carried out in the reorganization plan; »;
2° it is added a third dash, written as follows:
" - in the event of a reorganization by amicable agreement, on the date of the judgment which notes the amicable agreement, with respect to the claims whose slaughter is carried out in the agreement; »;
3° it is added a fourth dash, written as follows:
" - on the date of the closing judgment of the judicial reorganization procedure by transfer under the authority of justice, with respect to claims that could not be cleared as a result of the transfer. »
Art. 82. In section 48 of the Income Tax Code 1992, as amended by the Act of 7 April 2005, paragraph 2 is replaced by the following:
"Give rise to a tax exemption for value reduction and provision, the claims on the contracting parties for which a reorganization plan has been approved or an amicable agreement has been found by the court under the Business Continuity Act of January 31, 2009, during the taxable periods up to the full execution of the plan or amicable agreement or until the closing of the proceedings. »
Art. 83. In the same Code, title II, chapter II, section 4, subsection 2, it is inserted a letter E entitled "benefits from the approval of a reorganization plan and the recognition of a friendly agreement" and containing an article 48/1, which reads as follows:
"Art. 48/1. - shall be exempted under the terms and conditions of application established by the King, the profits derived from less-values made by the debtor on elements of the liability following the court's approval of a reorganization plan or following the court's finding of an amicable agreement under the Act of 31 January 2009 on business continuity. »
PART 8. - Abrogatory and transitional provisions
Art. 84. The King shall put the terminology and references to the laws in force in accordance with this Act.
Art. 85. Subject to its application to the judicial concordat proceedings pending at the time this Act comes into force, the Judicial Concordat Act of 17 July 1997 is repealed.
Art. 86. This Act comes into force on a date to be determined by the King and no later than six months after its publication to the Belgian Monitor.
Promulgation of this law, let us order that it be clothed with the seal of the State and published by the Belgian Monitor.
Brussels, 31 January 2009.
ALBERT
By the King:
Minister of Finance,
D. REYNDERS
The Minister of Employment,
Ms. J. MILQUET
Minister of Justice,
S. DE CLERCK
Seal of the state seal:
Minister of Justice,
S. DE CLERCK
____
Notes
(1) Parliamentary references.
House of Representatives
Documents: Doc 52 0160/(S.E. 2007):
001: MM Bill. Crucke and Bacquelaine.
002 to 004: Amendments.
005: Report.
006: Text adopted by the Commission.
007: Text adopted in the floor and transmitted to the Senate.
See also: Full transcript: November 6, 2008.
Senate
Documents: 4-995 - 2008/2009:
Number 1: Project referred to by the Senate.
No. 2: Amendments.
Number 3: Report (art. 78 of the Constitution).
No. 4: Report (art. 77 of the Constitution).
No. 5: Text amended by the commission (art. 78 of the Constitution).
No. 6: Text amended by the commission (art. 77 of the Constitution).
No. 7: Text amended by the Senate and referred to the House of Representatives (Article 78 of the Constitution).
Annales du Sénat : 18 décembre 2008
House of Representatives
Documents: Doc 52 0160/ (2008/2009):
008: Project amended by the Senate.
009: Report.
010: Amendment.
011: Text adopted in plenary and subject to Royal Assent.
See also: Full transcript: January 15, 2009.