Services | Safeguard

SAFEGUARD

Taking its name from the Business Safeguard Act of 26 July 2005, this procedure has been put in place for businesses which have not yet suspended payments, but which are experiencing difficulties that present a risk of danger to the company.

It is a preventive procedure which allows a greater room for manoeuvre for the company director, who retains control over the business.

It is available to companies that are able to forsee imminent difficulties at a time when they are still able to benefit from the legal mechanisms in place.

The culmination of this procedure is a safeguard plan. As with ad hoc or conciliation commissions, a company director may propose the name of a Judicial Administrator to the court for its approval in appointing them to the task of providing assistance with this procedure.