The Legal 500 > Europe, Middle East & Africa > Belgium > Insolvency and restructuring

Clients appreciate the 'knowledge, competence and availability' on offer from DLA Piper's finance, projects and restructuring department. With a particular focus on matters concerning asset recovery and credit reorganisation, the members of Ilse Van de Mierop's team are often appointed as receivers, provisional directors and liquidators. Van de Mierop is an aviation sector expert; she has been particularly active in this space as a result of the Covid-19 pandemic, and is currently assisting Sabena Aerospace Engineering in a wrongful termination-related creditor-liquidator dispute. Litigator Joris De Vos is another name of note for shareholder and real estate-related proceedings.

NautaDutilh's 'connections with the ministries and main judicial institutions make it a partner of choice' for insolvency and restructuring mandates in the Belgian market. Sophie Jacmain and Stan Brijs head a practice that counts financial institutions, real estate companies and debtors seeking reorganisation among its clients; this includes retailer Celio, ground-handling agent Swissport and toy distributor Asmodée – all of which have encountered difficulties in light of the Covid-19 pandemic. Bankruptcy administrator Jacmain is praised for her 'keen business sense and pragmatic character', while Brijs 'offers really hands-on advice combined with academic insights'.

White & Case LLP's financial restructuring and insolvency department is praised for its 'commercial awareness, dedication and attention to clients' needs', particularly on mandates with cross-border elements. The team's most significant recent work involves the Swissport Group, which it has advised on global insolvency contingency planning aimed at protecting the group's worldwide assets, while also reorganising its debt following the Covid-19 crisis. Practice head Thierry Bosly leads on all matters, and regularly assists debtors and lenders with distressed situations, acts for creditors during bankruptcy cases and defends parties facing liability claims.

Liedekerke Wolters Waelbroeck Kirkpatrick's insolvency and restructuring team benefits from 'technical expertise and great commercial awareness' when advising debtors on bankruptcies and handling directors' liability cases. Practice head Roel Fransis 'delivers exactly what the client needs' and focuses on domestic and international transactional matters, as well as financial litigation. Recent work includes handling the recovery of Brussels Airlines' claim after Thomas Cook’s collapse and bankruptcy proceedings, along with reorganising the carrier's activities in light of the Covid-19 pandemic.

The insolvency and restructuring department at Loyens & Loeff specialises in financial reorganisations, with a cross-practice set-up drawing on the firm's aviation, employment and real estate know-how. Well versed in transactional work and litigation relating to companies experiencing financial distress, the team has regularly been instructed following the introduction of the Belgian government's Covid-19 response measures. Led by new hire Vanessa Marquette, who joined the firm from Simont Braun in March 2020, the team also includes Marc Vermylen, newly promoted disputes partner Olivier van der Haegen and of counsel Laurent Mertens, who are praised for their 'professionalism, flexibility and know-how'.

Clients describe Stibbe as 'leaders at what they do', with further praise for the 'commercial and pragmatic solutions' on offer from Oliver Stevens and Paul Van der Putten's team, which fields experts from the separate corporate, restructuring, labour and tax practices. Work typically includes advising banks and leasing companies during periods of financial distress. Counsel Pieter Wouters 'punches above his weight on cross-border matters' and 'understands the bigger picture', often when handling litigation. All named lawyers are also instructed as liquidators in domestic dissolutions.

Strelia's restructuring and insolvency department leverages the firm's full-service offering to benefit from a range of corporate, tax and employment expertise. Led by the 'exceptional' Bart De Moor, the practice handles judicial reorganisation and bankruptcy-related matters, with a strong reputation for defending debtors during litigation proceedings. Clients recognise the firm's 'great network in Belgium', with De Moor and associate Marine Callebaut also regularly appointed as administrators or liquidators by the court.

ALTIUS advises creditors and companies in financial distress, along with the business partners of those nearing insolvency. Alexander Hansebout specialises in liability and insurance matters, along with the cross-border recovery of debts; he co-heads the practice with counsel and 'brilliant thinker' Bart Heynickx, who handles asset takeovers before any onward transfer. Carine Van Regenmortel stepped down as a partner in July 2020, but still holds an of counsel position at the firm.

Janson assists distressed enterprises, their managers and shareholders in all potential crisis situations, ranging from preventative judicial reorganisations to bankruptcy petition filing and voluntary liquidations. Cédric Alter, recognised by clients as 'a very good insolvency professional', often acts as a court-appointed trustee in various proceedings. He co-heads the practice alongside litigation specialist Dominique Blommaert, who divides his time between the Brussels and Ghent offices, and Emmanuelle Bouillon. The team also has experience in negotiating out-of-court settlements where necessary.

Lydian is best known for advising on corporate restructurings and domestic and cross-border workforce reorganisations, as well as the recovery of assets from distressed companies. Practice head Yves Lenders handles both transactional and litigation matters, specifically advising directors and shareholders on insolvency-related liabilities.

Monard Law typically assists companies in distress with obtaining protection against creditors and through liquidation proceedings, as well as advising on claims by creditors and temporary administrators. Headed by Inge De Haes, who is often appointed as a bankruptcy trustee by the Commercial Court, the practice also handles transactional and litigation matters. Corporate partner Pieter Van den Broeck offers strong support.

Quinz's insolvency and restructuring team 'is able to perform in-depth analysis of difficult legal issues', with 'exceptional quality' at partner level and below. Jointly headed by Benoît Allemeersch – noted for his 'excellent legal brain' – and Vincent Van Obberghen, whose 'perfect mastery of insolvency proceedings is downright impressive', the practice is best known for its handling of contentious matters. This includes litigation against debtors, as well as assisting creditors in cases involving fraudulent or wrongful trading.

At Racine, the focus is primarily on insolvency and restructuring-related litigation, with practice co-heads Joan Dubaere and Stijn Vanschoubroek often appointed as trustees and liquidators in various domestic proceedings. The team's client roster includes both debtors and lenders, and it has a further ability to handle distressed M&A-related matters. Counsel Rubben Lindemans is another key name; he specialises in reorganisation proceedings and enforcement.