The collective debt settlement is a Belgian judicial procedure for individuals in which debtors can resort to a complete or partial debt remission while taking a fresh start. Commissioned by the Community Bar Associations OVB and OBFG, Aginco built a secure and intuitive digital platform for collective debt settlements so that these proceedings can be handled considerably faster while boosting transparency.

Until recently, Belgian insolvency files were handled on paper. All parties involved in the legal handling of insolvency files (such as bankruptcies, judicial reorganisation procedures,...) had to go through the registry of the court of commerce to access and provide information on a given file.

Ghent, 6 May 2024 — Aginco, the Belgian expert in the digitization of legal and administrative processes, joins ICT integrator the Cronos Group.

The EU Insolvency Directive, officially known as the Restructuring and Insolvency Directive (EU) 2019/1023, was adopted on 20 June 2019.
With this directive, Europe aims to prioritise the survival of companies, preserve jobs and prevent bankruptcies.
The primary objective is to support struggling businesses in maintaining healthy operations, for example, through reorganisations. If bankruptcy does occur, Europe emphasises that procedures should be handled more efficiently and transparently.