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Insolvency and Restructuring

Adapting the legal framework for allowing continuity of running your business: that is the mission of Lydian’s insolvency and restructuring team.

Focus areas

Lydian’s specialists advise on complex restructurings and insolvencies across a wide range of distressed situations, notably in the areas of finance, tax, real estate, litigation and pensions, and employ analytical and creative thinking to structure the best possible solutions.

Lydian also offers practical and commercial advice on the contentious and non-contentious issues that are inevitably encountered in insolvencies. We regularly represent debtors, secured and unsecured creditors, financial institutions, insurance companies, landlords, creditor committees, directors and insolvency practitioners.

Lydian regularly represents businesses seeking a judicial reorganisation through the courts, enabling continuity of operation while remaining protected from creditors.

Collective dismissals are often a feature of insolvencies and company restructurings. Complying with the relevant legislation is both complex and time-consuming, especially when the context is often one of fraught relations with employees and their representatives. Lydian has extensive experience in handling collective dismissals and is particularly skilled with respect to:

  • compensation & benefits / employee Incentive Schemes;
  • employment litigation;
  • health & safety;
  • HR public sector;
  • HR restructuring;
  • international mobility;
  • employment law advisory;
  • pensions;
  • senior executives.

We advise a wide variety of stakeholders in restructuring and insolvency cases, including distressed borrowers; senior, junior, and subordinated debt providers; shareholders; directors; trustees; and suppliers to a distressed borrower. We also act for investors looking to buy into a distressed situation at either the debt or equity level.

Lydian’s Restructuring and Insolvency team has in-depth experience in all formal insolvency procedures, whether used as part of a work-out or as an exit solution for a distressed corporate.

Our team has earned itself a solid reputation for handling the employment law aspects of company restructuring operations, including transfers of undertakings (TUPE), outsourcing, collective dismissals, business closures and restructurings under the Belgian Chapter 11-like proceedings.

We frequently coordinate European restructuring projects in several countries.

Our experts advise on:

  • drawing up and negotiating social plans;
  • drafting collective employment agreements;
  • all formalities relating to collective dismissal proceedings (notifications to the authorities and communication to employees’ representatives);
  • information and consultation with (Belgian and European) works councils, trade union delegations and health and safety at work committees;
  • managing social conflicts;
  • early retirement arrangements.

Lydian has extensive experience in handling outsourcing and is particularly skilled with respect to:

  • compensation & benefits / employee incentive schemes;
  • employment litigation;
  • health & safety;
  • HR public sector;
  • HR restructuring;
  • international mobility;
  • Employment law advisory;
  • pensions;
  • senior executives

Our team aims at assisting you in optimizing your business on the short and long term through the appropriate contractual arrangements for the start and the end of any outsourcing project, albeit insourcing or change of service provider.