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  • 03-06-2013

Belgium has adopted new legislation on the creation and enforcement of security interests in moveable assets (the "Act"[1]). The Act significantly reforms and modernises security interests in movable assets. After its entry into force, Belgium will have much more flexible and business-friendly rules, allowing it to attract more asset-based lending. Amongst the most important changes introduced by the Act are (i) the possibility to perfect a pledge by filing, (ii) simplification of the enforcement procedures, and (iii) the possibility to create a pledge in the name of a security trustee. The Act will enter into force by 1 December 2014 at the latest and is expected to have far-reaching consequences for both existing and future financing transactions involving assets such as receivables, equipment, inventory, intellectual property rights and businesses located in Belgium.

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