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The Heiploeg ruling: new start for Belgian “quiet” bankruptcy (and “GROG” [judicial restructuring by transfer under judicial supervision])?

Insolvency & Restructuring

On 28 April 2022 the European Court of Justice again ruled on the (Dutch) quiet bankruptcy in the Heiploeg case. In that context, henceforth, an acquirer can make a selection of employees that is justified from a business economics viewpoint, provided that it is sufficiently clear that it is a liquidation scenario. The Court hereby deviates from its previous jurisprudence in the cases of Estro/Smallsteps and Plessers. Does this modified jurisprudence open the door to a Belgian quiet bankruptcy, or more successful transfers under judicial supervision?

02 May 2022


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