Insights

A number of important Belgian and EU legislative changes are likely to have an impact in 2024. On the one hand, there are new laws that have been adopted and will start to bite, and, on the other, there are proposals that are expected to firm up into law.

The articles of association of all Belgian companies and non-profit associations must be in line with the new Belgian Companies and Associations Code before January 1, 2024. Failure to amend your articles of association appropriately and in due time could result in a director’s liability claim.

A new Belgian law, passed on August 14, 2021, has introduced several important changes to the 2002 law on combating late payment in commercial transactions. These changes entered into force on February 1, 2022.

Class actions and their (possible) role in European law jurisdictions have been a hot topic for quite a while and this is not likely to change. The new EU directive 2020/1828 imposes the obligation upon EU member states to introduce a specific legal procedure for collective repair by 25 June 2023. In Belgium, such a procedure for collective repair was already introduced in 2014. With the imminent implementation of said EU directive into Belgian law, this procedure is likely to undergo some substantial changes. During this in-person seminar, Werner Eyskens, Evelien Van Espen, Yaël Rager and Charlotte Stynen will discuss the current and future role of class actions in Belgium, the contours of the existing procedure for collective repair and the potential impact of the expected new rules, as well as the role of third-party litigation funding and the fate of collective proceedings that fall outside the scope of the existing procedure and the new directive.

The legislative framework for contract drafting is rapidly evolving. A revised Book of the Belgian Civil Code on obligations (which is likely to be adopted after the Easter holidays), a recent change in the law to combat late payment between companies, and the existing rules on B2B contracts in the Code of Economic law all need to be taken into account.