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The Law on the Preservation of Enterprises and Modernising Bankruptcy Law dated 7 August 2023 came into force on 1 November 2023. The Law reshaped the Luxembourg insolvency regime by introducing a true alternative to bankruptcy into Luxembourg law, with new procedures for out-of-court arrangements and judicial reorganisations for companies facing financial difficulties.
In this article, Anna and Igesa discuss alarm mechanisms and early detection, out-of-court arrangements: flexibility and discretion, and judicial reorganisation: a comprehensive approach and Bankruptcy as a last resort.
Read the full article by downloading it below.
This article first appeared in the May 2024 issue of Insolvency and Restructuring International (Vol 18, No 1), and is reproduced by kind permission of the International Bar Association, London, UK. © International Bar Association.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
