Latest Newsletters & Newsflashes
Aug 01, 2023Newsflash | From bankruptcy law to insolvency law
On 21 July 2023, the long-awaited Draft law 6539A (since 2013), aiming at modernising the insolvency tools available for restructuring a company, has been officially adopted (but not yet published in the Journal Officiel for the law to come into force). The expectation was also due to the need for
Jul 18, 2023Newsflash | Bill PL8051 - Institutionalizing Temporary Criminal Procedural Measures
In a nutshell: the PL8051 bill represents a significant step towards institutionalizing the temporary measures implemented during the Covid-19 crisis and modernising the interaction with the courts. By integrating these measures into the Code of Criminal Procedure, Luxembourg aims to ensure the
Jun 22, 2023Newsflash | New Legislation on the Execution of Freezing Orders and on the Mutual Recognition to Confiscation Orders: Towards the Implementation in Luxembourg of Regulation (EU) 2018/1805
In 2018, the European Parliament and the European Council adopted a regulation on the mutual recognition of freezing orders and confiscation orders, the Regulation (EU) 2018/1805 of November 14, 2018. The Regulation aims at making the freezing and confiscation of assets deriving from criminal
Mar 31, 2023The immunity of financial collateral arrangements from collective proceedings
On 19 January 2023, the Luxembourg Court of Appeal provided an interesting clarification on the scope of the immunity of financial collateral arrangements provided for by the Law of 5 August 2005 (the " 2005 Law"). In this case, a pledgee had applied to the District Court (“ Tribunal d
Jun 17, 2022New legislation in Luxembourg concerning the freezing and confiscation of proceeds of crime
On the 14th of June, the Luxembourg parliament adopted the draft bill no 7452 aiming to finalise the transposition of directive no 2014/42/EU of the European Parliament and of the Council on the freezing and confiscation of instrumentalities and proceeds of crime in the European Union (the “Law”)
May 20, 2022Newsflash | Loi du 9 décembre 2021 portant modification du Code de procédure pénale
En date du 2 décembre 2021, la Chambre des Députés a procédé au vote du projet de loi N°7785 portant modification du Code de procédure pénale. La loi qui est désormais entrée en vigueur prévoit une série de modifications procédurales en matière pénale non liées entre elles, dont notamment: Une
Apr 01, 2022Newsflash | The EU's sanctions regime against Russia is producing tangible results in Luxembourg
On the 29th of March 2022, during a joint meeting of the Finance and Budget Committee and the Justice Committee at the Luxembourg Parliament, Finance Minister Yuriko Backes and Justice Minister Sam Tanson gave an update on the implementation of the restrictive measures taken by the European Union in
Feb 03, 2022Newsflash | Register of Beneficial Owners - Preliminary ruling to the Court of Justice of the European Union: the principle of public access to personal data "validated" by the advocate general of the CJEU
Following the adoption of the Law of 13 January 2019 establishing a Register of Beneficial Owners (hereinafter the " RBE Law") transposing Article 30 of Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the
Dec 15, 2021Newsflash | Exchange of information upon request: ECJ rules on group requests and sanctions
The case that led to the decision rendered by the European Court of Justice (the “ ECJ”) on 25 November 2021 in case C-437/19 concerns a request for exchange of information by the French tax authorities aiming at identifying the shareholders and ultimate beneficial owners of a Luxembourg public
Aug 17, 2021Newsflash | Beating financial crime
The European Commission proposes a new anti-money-laundering draft legislation package to strengthen the EU's anti-money laundering and countering terrorism financing rules On 20 July 2021, the European Commission (“Commission”) presented an ambitious package of legislative proposals to strengthen
Jun 17, 2021Newsflash | Rentrée judiciaire 2021-2022 et projet de loi n°7307 : quels changements ?
Le 8 juin 2021, les députés ont voté à l'unanimité en faveur du projet de loi n° 7307 (ci-après le « projet de loi ») dont la grande majorité des dispositions entrera en vigueur le 16 septembre 2021 [1]. Le projet de loi a fait l’objet d’une dispense de second vote en date du 15 juin 2021. La loi en
Apr 30, 2021Newsflash | An exequatur judgment does not circulate inside EU Member States – “Exequatur sur Exequatur ne vaut”
I. In a nutshell In a recent decision, the Court of appeal clarifies that it is for each Member State to decide for itself whether the enforcement of a foreign (non-EU country) decision would be contrary to its own public order, underlining that EU exequatur decisions granted by another Member State
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