The Belgian Treasury has rescinded its refusal to issue a license for unblocking the assets of a securities market professional participant and their clients.

Lawyers from VERBA LEGAL's sanctions practice received notice from the Belgian Treasury regarding the retraction of a license denial issued to VERBA LEGAL's corporate client. This reversal by the Treasury is the outcome of an appeal process initiated by VERBA LEGAL in August 2023.

Unlike prior instances, the Belgian Ministry of Finance did not immediately reverse its decision post-appeal but proceeded to do so after the exchange of procedural documents during a contentious process with the Belgian Council of State.

The project was led by Senior Partner Tatiana Neveeva, Counsel Marat Samarsky, and Paralegals Yulia Koroleva and Tatiana Zelenovskaya.