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Procedural battle of 1 million threatens El Kaouakibi

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The bankruptcy trustee of the bankrupt Point Urbain, one of the companies around Sihame El Kaouakibi (Open VLD), wants to hold the fallen Flemish Member of Parliament personally liable for the mountain of debt of around 1 million euros. That is why the trustee demands that El Kaoukibi and her partner cough up the money themselves.

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There is a threat of a procedural battle in the El Kaouakibi case. A case involving Point Urbain, one of the lost businesses of the Flemish Member of Parliament, was argued before the company court in Antwerp on Thursday. A leasing company requests the return of a laundry list of audiovisual material.

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At the same time, the curator of the catering and event company, which was declared bankrupt in February last year, the duo to personal liability. That is why the bankruptcy trustee is making efforts to recover Point Urbain’s debts, approximately 1 million euros, from El Kaouakibi and her partner Erika Nguyen as (former) directors.

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The lawyers of El Kaouakibi and Nguyen cited various legal-technical reasons for rejecting the request of the leasing company AED: detailed title deeds would be missing and the attachment judge should have been called instead of the company court.

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AED states that in 2018 it leased a lot of specific audiovisual material to Point Urbain on a long-term basis and that El Kaouakibi signed the agreement as director at the time. After the bankruptcy of Point Urbain, the creditors seized the properties and therefore also – wrongly – the rented equipment, says AED. The owner of JJ House, on the other hand, believes that as a creditor he has a privilege on all goods present there. Some of the audiovisual material would still be missing.

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mountain of debt



Ms. El Kaouakibi has found herself in the eye of the storm and everything she did is now seen as wrong. But she’s not a bad person. We want to keep the peace and see what the investigation will reveal.

Joris Vercraeye

Attorney Sihame El Kaouakibi

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The bankruptcy trustee of Point Urbain, Philippe Termote, is trying to extend the lawsuit brought by AED to Point Urbain’s mountain of debt, in order to recover those costs from El Kaouakibi and Nguyen. The debts amount to 1.14 million euros, of which a ‘disappeared’ bond loan of 762,000 euros and 143,000 euros in goods that are missing. The advance that a couple paid for a canceled marriage at JJ House also falls under the debt.

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According to Termote, the duo would have made mistakes if directors and the rules about conflicts of interest did not comply. The two are accused, among other things, of having transferred a loan from prominent businessmen to another company and thus ‘impoverished’ Point Urbain. That the trustee therefore demands that El Kaouakibi and Nguyen personally pay to repay the debts had been known since June last year.

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‘Draconian progress’

The curator says that El Kaouakibi and Nguyen do not accuse El Kaouakibi and Nguyen of fraud in this case, but only ‘mistakes’. He also believes that Point Urbain is not involved in the judicial investigation into El Kaouakibi and the non-profit organization Let’s Go Urban. Nevertheless, the lawyers of El Kaouakibi and Nguyen believe that the criminal investigation must be awaited before a decision can be made on their personal liability for Point Urbain’s debts.

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“Mrs El Kaouakibi has found herself in the eye of the storm and everything she did is now seen as wrong,” says her lawyer Joris Vercraeye. ‘But she’s not a bad person. We want to keep the peace and see what the investigation will reveal.’ Vercraeye calls the claim of 1 million euros ‘draconian’. In principle, the judge will decide on May 19 on the return of the goods and the personal liability of El Kaouakibi and Nguyen.

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