2010 Belgium
Brink's just filed for bankruptcy in Belgium in early November. It accuses the unions of being responsible. At the same time, Brink's has applied for and obtained a license to transport funds. The conciliator office and the minister denounced the unwillingness of the leadership to negotiate and the Belgian trade union "investigating" to determine if the bankruptcy is fraudulent or not. On November 15, 2010 the court refuse the bankruptcy. "This bankruptcy confession is inadmissible because it was premature and therefore unfounded," said the procureur. "The responsibility of the directors of Brink's is engaged and it is a regrettable fraud on the bankruptcy laws and a manipulation of the court in order to reduce internal social conflict". The court proceeded with the appointment of counsel Gérard Delvaux and Alain Zenner as provisional directors of Brinks. On November 16, 2010 the public court is looking of misuse of corporate assets. On November 25, 2010 the court of commerce accepted a protection of Brink's against its creditors. With this, the provisional directors can continue negotiating with interested companies. At that time, there are 2 Belgian and 2 foreign companies interested.
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