Legal tools for liquidity issues in times of COVID-19
There are tools available in Belgian insolvency legislation that can help businesses that are struggling with liquidity during the sizeable economic impact brought by the COVID-19 outbreak.
COVID-19 has brought worldwide economic standstill. Government measures to safeguard public health are causing loss in turnover and acute shortage of cash. Technical unemployment and other supporting measures do not provide sufficient support for businesses to tackle the problems, and they thus face insolvency.
Existing insolvency legislation provides several tools to avoid insolvency by providing time and breathing space to restructure the financial situation.
Deloitte Legal provides more information regarding these legal tools through the downloadable leaflet in the right.