Best Project Finance Lawyers in Thuin

About Project Finance Law in Thuin, Belgium

Thuin is a municipality in the Walloon region of Belgium, within the province of Hainaut. Project finance in Thuin generally follows Belgian corporate and civil law, with a focus on ring-fenced SPVs that repay debt from project cash flows rather than the sponsors’ balance sheets. In practice, lenders look at the project structure, contractual off-take arrangements, and security packages to assess risk.

A typical Thuin project uses a Special Purpose Vehicle (SPV) organized under Belgian corporate law to own and operate the project assets. The SPV negotiates with lenders, sponsors, contractors, and offtake counterparties. Security interests such as mortgages and pledges are often used to protect lenders if the project underperforms.

Because Thuin sits in Wallonia, local regulatory considerations include regional procurement rules and language requirements in French. Dealing with public authorities, private lenders, and cross-border investors is common in infrastructure and energy projects in this area. A local solicitor or legal counsel can coordinate between the SPV, lenders, and public authorities to ensure compliance throughout the life of the project.

Project finance is a financial structure that relies on the projected cash flows of a single project and uses those cash flows to service debt, with limited recourse to the sponsors. This approach is widely used for energy, transport, and large-scale infrastructure projects.

Why You May Need a Lawyer

Structured project finance in Thuin involves complex contracts, cross-border considerations, and Belgian regulatory requirements. An experienced solicitor or legal counsel helps you navigate these elements and reduce risk.

• You are bidding for a public-private partnership (PPP) energy project in Wallonia and need to align the SPV, lender, and public authority terms. A lawyer can draft and review the tender documentation, financing agreements, and security package to meet regional rules.
• You plan to set up an SPV under the Code des sociétés et des associations and need counsel on shareholding arrangements, governance, and liability management. A Belgian solicitor can advise on corporate form and director duties applicable in Thuin.
• You must negotiate a multi-lender loan, hedging, and intercreditor agreements tied to a project in Thuin. A lawyer will coordinate with lenders and ensure the security package, waterfall provisions, and default remedies align with Belgian law.
• You require security interests such as mortgages on real estate in Thuin or security over project assets. A notary and a Belgian solicitor will handle perfection, registration, and priority concerns in the Land Registry system.
• You face public procurement compliance for a Wallonia-based project and need to ensure tendering, eligibility, and contracting comply with EU directives and Belgian implementation. A lawyer helps maintain competition and transparency while protecting your interests.
• You seek cross-border investment with non-resident sponsors and must address fiscal and regulatory hurdles. A Belgian legal team can advise on tax optimization, repatriation, and treaty relief where applicable.

Local Laws Overview

For project finance in Thuin, several named laws and regulations shape how deals are structured, financed, and executed. The following statutes are central to most project finance transactions in this region.

• Code des sociétés et des associations (CSA) - the reform of corporate law enacted in 2019 to modernize corporate governance and SPV use. It governs SPV formation, governance, share transfers, and liability. The code is implemented with transitional provisions and applies to Belgian companies and partnerships involved in project finance.
• Loi du 17 juin 2016 relative aux marchés publics et à la passation des concessions - Belgium’s public procurement law implementing EU directives for public contracts and concessions. It governs tendering processes, award criteria, and transparency for public infrastructure projects in Wallonia, including those in Thuin when the project involves public funding or authority involvement.
• Code civil belge - the Belgian Civil Code, including provisions on real security interests such as hypotheques (mortgages) and other pledges. This code underpins the security package for project finance loans, including registration and priority rules applicable to real estate and project assets within Belgium and Thuin.

Wallonia follows EU public procurement directives via national law, with regional adaptations for the SPW and other public bodies in Wallonia. This affects how project contracts are drafted and tendered in Thuin projects.

The Code des sociétés et des associations modernizes how SPVs can be used for large infrastructure projects, including governance and capital structure changes that affect project finance deals.

Frequently Asked Questions

What is project finance in Belgium and why use it?

Project finance relies on project cash flows rather than sponsor balance sheets. It is common for large infrastructure and energy deals in Belgium and Thuin to limit sponsor risk and isolate project performance.

How do I start a project finance SPV in Thuin?

Start with a Belgian SPV under the CSA, define the project scope, and appoint directors. Engage a local solicitor to align governance with regional rules and lender requirements.

What is the difference between an SPV and a regular company?

An SPV is created to isolate project risk and assets. It has limited liability and specific governance tailored to project finance needs, unlike a standard operating entity.

Do I need a notary for the security package in Belgium?

Yes. Real estate mortgages and certain security instruments must be executed or perfected with a notary and registered in the appropriate register.

How long does due diligence typically take in a Wallonia project?

Due diligence for a mid-size energy or infrastructure deal in Thuin usually takes 4 to 8 weeks, depending on data availability and counterparty cooperation.

What documents should I prepare for the SPV formation?

Prepare articles of association, shareholder agreements, governance charters, and initial board resolutions. Counsel can tailor these to your project needs.

Can non-Belgian investors participate in a Thuin project?

Yes. Foreign investors can participate through cross-border SPVs, but you must address Belgian tax registrations and regulatory disclosures.

What are the main security instruments used in Belgian project finance?

Mortgages on real estate, liens on project assets, and pledges on shares are common. Intercreditor and hedging agreements are also typical.

How does public procurement affect a Wallonia project near Thuin?

Public contracts in Wallonia follow EU directives and Belgian implementing laws. The bid process must be transparent, with clear evaluation and awarding criteria.

What costs should I expect when hiring a project finance lawyer?

Costs vary by complexity, but typical fees cover due diligence, document drafting, negotiations, and regulatory compliance. Ask for a fixed-fee estimate or stage-based billing.

Is there a typical timeline from signing to closing a project in Thuin?

Closing a project finance deal in Thuin often spans 3 to 6 months after initial term sheets, depending on due diligence, procurement, and regulatory approvals.

What if regulatory changes occur during financing?

Your counsel should monitor changes to CSA, procurement rules, and tax rules and adjust structures, covenants, and security packages accordingly.

Additional Resources

• provides guidance on EU procurement rules that apply to Wallonia projects and cross-border bidders. https://ec.europa.eu/info/policies/public-procurement_en
• explains core concepts, SPV structures, and non-recourse finance principles used in infrastructure deals. https://www.worldbank.org/en/topic/projectfinance
• overview and reform context for corporate law in Belgium. https://justice.belgium.be