"The Show Must Go On": Protection Against Creditors during the COVID-19 Crisis
It is undeniable that, with the lockdown measures and other restrictions imposed by the Belgian government to fight against COVID-19, many companies have to deal with revenue loss while keeping high level of costs. This is particularly true for the cultural sector and the music industry with the cancellation of so many events.
Last week, the Belgian government has adopted several measures to protect debtors against creditors in these difficult times.
In that regard, the Royal Decree n°15 “on the temporary suspension of enforcement measures and other measures during the COVID-19 crisis”, entered into force on 24 April 2020, implements new temporary measures to protect businesses which had not ceased payment prior to or on 18 March 2020 and have faced difficulties due to the impact of COVID-19.
The Royal Decree suspends various enforcement measures automatically until 17 May 2020. This period could be extended if the government deems it necessary.
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