At Justlex we are also regularly appointed by the Luxembourg courts in insolvency procedures, especially for debt collections and asset recovery in large bankruptcies, in which we normally act as judicial liquidator, receiver in company judicial liquidations and insolvencies, and as temporary administrator in succession matters.

It worth noting that, the Luxembourg insolvency law has recently been modernised, leaving unimpacted the panorama of financial collateral arrangements, such as direct agreements among parties, pledge agreements and netting arrangements, which remain unaffected by local or foreign insolvency proceedings. In particular, the law of 5 August 2005 on financial collateral arrangements, as amended, and the law of 10 July 2020 on professional payment guarantees, combined with the new Luxembourg law dated 7 August 2023, entered into force, on November 1st 2023 (ex-draft Bill No. 6539A), as reviewed the restructuring mechanisms and proceedings, such as the controlled management, the moratorium or reprieve from payment and the composition with creditors.

In the frame of the management of their estates, Justlex Clients ask to our specialised lawyers support in restructuring their activities also by way of voluntary liquidation and dissolution of their companies, which may involve also restructuring debt and loans on the side of the borrower, as well as of the lender, or in the conversion of debt to equity. This activity of non-judicial debt restructurings, including the refinancing or the renegotiation of existing debt imply tight work with our corresponding accounting firm JustAdmin Sàrl.