{"id":69258,"date":"2018-07-16T10:02:28","date_gmt":"2018-07-16T08:02:28","guid":{"rendered":"https:\/\/tcm.be\/glossarium\/judicial-reorganisation\/"},"modified":"2026-01-14T23:12:09","modified_gmt":"2026-01-14T22:12:09","slug":"judicial-reorganisation","status":"publish","type":"glossarium","link":"https:\/\/tcm.be\/en\/glossarium-en\/judicial-reorganisation\/","title":{"rendered":"Judicial settlement"},"content":{"rendered":"\n<p><strong>Judicial settlement<\/strong> is a procedure designed to protect, under a judge\u2019s control, the continuity of all or part of a struggling company. \u00a0This procedure is a possible option when a trader, a person exercising a liberal profession or a company is in a <a href=\"https:\/\/tcm.be\/en\/suspension-of-payments\/\">suspension of payments<\/a> situation. The company uses the <strong>judicial settlement<\/strong> <strong>procedure<\/strong> to try to give itself a second chance of maintaining its activity and protecting the jobs that it provides.<br><br>The <strong>judicial settlement<\/strong> can be requested by all stakeholders such as the <strong>debtor<\/strong> , the <strong>creditor<\/strong> , or the <strong>public authorities<\/strong> , but only if the tribunal fells that rescuing the company is feasible. If the company cannot be rescued, it could be declared <a href=\"https:\/\/tcm.be\/en\/bankruptcy\/\">bankrupt<\/a> (if the two conditions of bankruptcy are met: suspension of payments and credit weakness).<br><br>There are <strong>3<\/strong> types of <strong>judicial settlement<\/strong> :<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Reorganisation via <strong>amicable agreement<\/strong> with the creditors, under the supervision of a judge (staggering of payments, write-off of part of the debt, etc.)<\/li>\n\n\n\n<li>Reorganisation by means of <strong>collective agreement<\/strong> with the creditors on the establishment of a restructuring plan.<\/li>\n\n\n\n<li>Reorganisation by <strong>transfer<\/strong> of all or part of the business to one or more third parties.<\/li>\n<\/ol>\n\n\n\n<p>Updated 06\/08\/2018<\/p>\n\n\n\n<p>Definitions provided under this section refer to the Belgian situation; unless specified otherwise. The texts are meant to summarize concepts in daily language and should not be considered as comprehensive or definite. We welcome suggestions for modifications or additions at\u00a0<a href=\"mailto:glossary@tcm.be\">glossary@tcm.be<\/a>.<\/p>\n","protected":false},"featured_media":0,"template":"","class_list":["post-69258","glossarium","type-glossarium","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/glossarium\/69258","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/glossarium"}],"about":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/types\/glossarium"}],"wp:attachment":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/media?parent=69258"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}