If your organisation (business, foundation or association) has temporary problems with payment, and you do not want to go bankrupt, you can apply for a suspension of payment. This option is mainly used by organisations that are legal entities. You must have a lawyer for this procedure.

The administrator, or one or more creditors, can ask the judge to withdraw the suspension of payment. They can do this for various reasons, for example if they think that the debtor is bankrupt, not following the rules or treating creditors unfairly. The debtor can respond to this request for withdrawal.

An organisation’s (business, foundation or association) suspension of payment can end:

• when the administrator or one or more creditors asks to withdraw the suspension of payment. If the judge grants the request, this usually means that the debtor goes bankrupt.
• when the debtor asks to withdraw the request because the organisation is now able to start paying again. The administrator can help with this.
• when an agreement is finalised with the creditors, saying that the debtor’s organisation only has to pay part of the debt.
• if the period of the suspension of payment ends and there is no agreement with the creditors. Creditors can then demand that the debtor pays the remaining debts.