1 address in Ghent, 200 companies: public prosecutor’s office summons 39 companies after checking one PO box address (Ghent)

The Public Prosecution Service has summoned 39 companies to the insolvency chamber of the Ghent corporate court because they are in a state of bankruptcy or do not submit their annual accounts to the National Bank. The East Flanders public prosecutor’s office reports this after an inspection of more than 200 companies at one PO box address in Ghent.

Source: BELGA

Today at 11:50

The investigators checked the solvency of all companies located at Zwijnaardsesteenweg 44 in Ghent. “According to the Crossroads Bank for Enterprises, more than 200 companies have their registered office at this address,” says the public prosecutor’s office. “The financial investigation has shown that, in the opinion of the public prosecutor’s office, 39 of these companies are either bankrupt or have failed to file their annual accounts with the National Bank of Belgium, although this is legally required.”

The 39 companies were civilly summoned before the insolvency chamber of the company court at two thematic hearings on May 14 and May 28. “P.O. Box addresses are often used as registered offices by companies in difficulty. In this way, companies can escape coercive measures from bailiffs,” reports the East Flanders public prosecutor’s office. “Companies that do not pay their creditors and, in fact, disregard the rights of their creditors by establishing themselves at an address where nothing can be found, cause serious damage to the economic fabric. Bankruptcy or dissolution of the company can prevent new debts from arising and remaining unpaid.”

For every bankruptcy that is declared, an investigation is opened to determine whether crimes have been committed that could lead to a prison sentence, fine or professional ban.