Herbert Smith Freehills and Simpson Thacher each announced the launch of a new office in Luxembourg this week, with both firms attempting to capitalise on a lively and growing private capital market.
Continue reading “HSF and Simpson Thacher to launch in Luxembourg with A&O Shearman hires”
1. What are the key regulatory bodies and laws that govern the banking and finance industry in Luxembourg, and how do they impact financial institutions? Continue reading “Sponsored Q&A: SJL Jimenez Lunz”
1. What are the key tax laws and regulations in Luxembourg that individuals and businesses should be familiar with?
The key tax rules to be aware of are, to a large extent, contained in the Income Tax Law, the Value Added Tax Law and the Net Wealth Tax Law. Procedural elements are included in the General Income Tax Law. Additionally, the tax authorities regularly issue circular letters providing guidance on specific tax matters.
Continue reading “Sponsored Q&A: Stibbe”
Independent law firms across the Benelux region have gone into 2022 with a renewed sense of optimism, with them successfully withstanding the challenges of Covid-19 to continue winning exciting new mandates. Reflective of the buoyant mood of the market, at Stibbe, Brussels managing partner Wouter Ghijsels says: ‘Last year was our best year in terms of turnover. Our office is growing, and things are actually going extremely well in Brussels.’
Deal activity in Belgium has remained high since summer 2020, with firms reporting unprecedented demand from clients, as pre-pandemic trends in debt markets reassert themselves. 2021 saw an increase in activity from private equity funds, with the TMT, logistics and industrial sectors doing particularly well. Real estate, after a period of uncertainty, has once again become a sought-after asset, with centrally-located office space, logistics property and data centres in particular proving attractive targets for international investors, REITs and portfolio holders. Continue reading “Euro Elite Benelux: Full steam ahead”
Ashurst is a step closer to building out its European funds offering having today (22 June) received licence approval for a new Luxembourg office from the country’s Bar association.
Corporate partner Isabelle Lentz – currently head of the firm’s Luxembourg desk in London -will take the helm at the new outpost, which is set to open in October. Continue reading “Ashurst targets funds and Brexit business with Luxembourg launch”
While local firms in the three Benelux countries have had to fight global law firms at one time or another, the independents have successfully held their own.
The Benelux countries – Belgium, the Netherlands and Luxembourg – may be closely-knit neighbouring states in central Europe, but their legal markets are distinctly different. And while historically these countries joined West Germany, France and Italy to form the European Coal and Steel Community – a predecessor to the EU – the rules and regulations for each market have created unique landscapes for law firms.
Continue reading “Euro elite: focus Benelux – Perfect triptych”
MARKET VIEW – LITIGATION
Bonn Steichen & Partners’ head of disputes Fabio Trevisan explores the ‘soft alternative’ to bankruptcy and what it means for both debtors and creditors
Luxembourg law provides for a range of insolvency procedures, of which the most common have as their purpose the winding-up and realisation of the assets of the debtor, namely bankruptcy and judicial liquidation; whereas other insolvency procedures, such as suspension of payments (sursis de paiement), composition with creditors (concordat préventif de faillite) and controlled management (gestion controlée), aim at preserving and/or recovering the business of the debtor. Controlled management (gestion contrôlée) was devised as a less blunt measure than bankruptcy and as a softer alternative to composition with creditors; it permits companies in a temporarily weakened financial state to find a solution while avoiding the harshness and finality of bankruptcy. The controlled management regime is governed by the Grand-Ducal Decree of 24 May 1935, supplementing the legislation on suspension of payments, composition with creditors and bankruptcy.
Continue reading “Luxembourg controlled management proceedings”
