JRP Mediation Bankruptcy
Choice of languages
 
FR/NL 7 languages Depending on the address of the registered office
Can you choose which creditors to negotiate with? No, they are all called, but the creditor can choose whether or not to attend. Yes, you can choose the creditors with whom you wish to find a solution. The trustee is responsible for repaying the creditors, in order of importance according to the company's assets and liquid assets.
Can the amount of debt be reduced? YES. Please note that it is difficult to reduce the amount of debt owed to financial institutions and the authorities. YES YES
Applicant's financial situation Complex situation (many creditors and large amount of debt) Relatively simple situation (few creditors and low debts). The company can no longer find solutions because its debts are too high in relation to its profitability.
Submitting the claim to creditors All creditors are contacted. A double majority is required to reach an agreement. The company chooses which creditors are contacted. A creditor may file for bankruptcy against either the manager or the administrator. All creditors must come forward.
Is it confidential? 
  
YES YES No, publication in the Belgian Official Journal
How is the payment plan accepted? Double majority required: 1. in number of persons (e.g. if there are 5 creditors, the agreement of 3 of them is required). 

2. in the amount due (e.g. if the total debt is €20,000, the agreement must cover a minimum of €10,001)

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Agreement drawn up separately with each creditor and validated by the court if desired

 

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Period Very short introduction times.

The company must react in time. Settlement within 5 years maximum

Unlimited, as long as debtors agree to negotiate Immediate, as soon as you are cited
Cost 1,000 EUR EXCL. VAT 500 EUR EXCL. VAT