Suspension of payments
Suspension of payments is a situation affecting an individual or a company whereby they no longer possess sufficient liquidity (available assets) to repay their outstanding debts.
The state of suspension of payments should not be confused with the state of insolvency. Insolvency is a permanent state, while suspension of payments may be a temporary state resulting from a short-term lack of liquidity.
Definitions provided under this section refer to the Belgian situation; unless specified otherwise. The texts are meant to summarize concepts in daily language and should not be considered as comprehensive or definite. We welcome suggestions for modifications or additions at email@example.com.