While the new Companies’ and Associations’ Code (BCC) has been applicable to new companies and associations since 1 May 2019, amendments to certain provisions are foreseen.
Belgian Companies’ Code
Lack of creditor protection within a private limited liability company in the event of a capital decrease is discriminatory
The Constitutional Court recently ruled that the difference between the protection mechanism for creditors of a private limited liability company and creditors of a public limited liability company in the event of a capital decrease is not reasonable justified and is therefore discriminatory.
Modification of the simplified liquidation procedure
Since a few years it is under specific circumstances possible to dissolve and liquidate a company through a mere decision of the extraordinary general shareholders’ meeting without the obligation to start up the, more time consuming, ordinary liquidation procedure.
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