COLLECTION, ATTACHMENT AND INSOLVENCY
SEIZURE AND ENFORCEMENT LAW
Parties embark on court proceedings not only to see their arguments upheld, but also to be able to recover the amount claimed afterwards.
The law offers a variety of possibilities for securing the implementation of a judgment debt, either via personal securities, mortgages and other collateral security, or via seizure or attachment orders. All of these instruments have their own characteristics and limitations, and the question of which legal concept or combination of legal concepts would best secure your judgment debt is largely dependent on the specific features of your case. The influence of insolvency mechanisms should also not be underestimated.
Seizure and attachment orders have to be customised without delay. If we have detailed, reliable information on the situation, we can work very quickly. We can freeze movable and immovable assets, bank accounts and inventories. We can also prevent judgment debts from being diminished.
Based on your individual case, Astrea can advise you on the manner in which you can insure the implementation of your judgment debt. In addition, with regard to international enforcement (implementation of a Belgian court decision overseas, or vice versa), we can recommend the steps to be taken.
Finally, our experience in connection with seizure and enforcement law also extends to maritime law. (please highlight maritime law and insert a hyperlink)
RESTRUCTURING AND CONTINUITY – CONTINUITY OF ENTERPRISES ACT
Companies in difficulty may be restructured or reorganised, either through an adjustment to the company structure or through a limited or collective debt settlement agreement. Astrea assists its clients during the pre-insolvency period with strategic, legal and technical advice, and also provides the necessary support during negotiations with banks and creditors.
During the global financial crisis, we assisted many companies with reorganisations outside court or using the reprieve granted by the court under the Continuity of Enterprises Act [Wet Continuïteit Ondernemingen - WCO]. We act for companies which find themselves in the position of a debtor in difficulty, advising them on debtor protection, retaining control of the company (becoming a debtor-in-possession), reorganisation planning, and transfer of assets or activities (which may be under judicial supervision). We also act for creditors confronted with non-payment of claims.
The future of a company can be secured by obtaining timely advice and making strategic decisions. In these types of situations, it is certainly true that the timely involvement of a lawyer can save or protect a company's capital. Astrea analyses the position of the company and draws up a plan of action, then it implements measures for the preservation of capital and company value, including employment relationships. Because several different legal disciplines may be involved, Astrea puts together a tailor-made and efficient team of lawyers for each individual case.
INTERNATIONAL INSOLVENCY LAW
Astrea’s lawyers have handled numerous international cases over the years, and as a result have built up wide-ranging experience and expertise in all aspects of international insolvency law. Astrea is an expert on the European Insolvency Regulation and the UNCITRAL instruments.
We advise our clients on financing, corporate structures and commercial contracts in relation to cross-border bankruptcy risks.
Using our extensive network of foreign specialist lawyers, we are able to operate throughout Europe and beyond. We protect the interests of our clients when they find themselves confronted with the insolvency of a partner company or group company in a foreign country.
We also represent foreign receivers, liquidators and agents in Belgium, whether acting on their behalf in the execution of their mandates, or by providing assistance with the sale of assets, the recovery of debts and the enforcement of claims and judgements.
INSOLVENCY AND DISPUTES
Companies in financial distress and their creditors need assistance from a specialised lawyer.
We act in case a debtor threatens to become insolvent. The recovery of a claim or invoice is then accelerated or given further impetus through conservatory attachment. Securities, such as mortgages, pledges, guarantees and others are enforced, both domestically and abroad.
If your interests are concurrent, we defend the interests of our clients in equitable distribution or ranking, even if international aspects are involved.
Our expertise at this level can also avoid insolvency. Taking out loans, providing security and drafting contracts are all undertaken prudently and in strategic consultation. In case of a looming dispute, we can advise how best to guarantee the continuity of your company and its activities.