International Corporate Rescue
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Vol 21 (2024) - Issue 3
Article preview
New Luxembourg Restructuring Law and the Double Luxco: An Im-perfect Match?
Anne-Marie Nicolas, Banking & Finance Partner, and Alexandre Sensi, Banking & Finance Senior Associate, Loyens & Loeff, LuxembourgSynopsis
Much ink has been spilled since the entry into force of the long-awaited Luxembourg law on business preservation and modernisation of bankruptcy law. This law, which came into force on 1 November 2023 (the 'Restructuring Law'), is revamping the existing but rarely used restructuring tools and introducing new preventive and reorganisation measures. We will analyse in this article if and how the new restructuring tools fit in the well-established and creditor-friendly legislative framework on financial collateral arrangements and the popular use of Double Luxco structures.
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