Any creditor who holds an order against a debtor may seize the debtor’s assets.

The attachment of movable assets allows the creditor to sell movable assets belonging to the debtor (whether an individual or a legal entity) by public auction in order to repay the mass of creditors. However, attachment does not give the attachment creditor a preferential right to the sale price of attached assets.

The bailiff may attach all movable assets belonging to the debtor (but for certain “protected” items listed under article 1408 of the Judicial Code). Nevertheless, at every stage of the procedure, the debtor may issue payment proposals to the bailiff or to his creditor.

If no solution is found, the bailiff sets an auction date. He then proceeds to the removal of all attached movable assets, found at the debtor’s address (home, registered office or place of business).

If the auction is eventually cancelled or postponed following a payment proposal from the debtor, the movable assets remain attached. In such an event, under no circumstances is the debtor allowed to dispose of theses assets without prior consent of the attachment creditor. In this way, the debtor cannot take away the security, granted to him by the attachment, with regards to the recovery of his debt . The foregoing prevails, even if a payment plan is in force and being respected by the debtor. Any breach shall be deemed to constitute a criminal offence.

Article 507, paragraph 1, of the Belgian Criminal Code protects the creditor against the destruction or misappropriation of attached movable assets, but also against the destruction or misappropriation of parts of a foreclosed building, insofar as these parts can be detached or removed. In this respect, Belgian case law states that the annulment of an attachment based on a procedural flaw has no bearing on the existence of the offence referred to under article 507 of the Belgian Criminal Code.

For further information on the matter of attachments, foreclosures, garnishments of any kind, please feel free to contact Virginie SCHOONHEYT.