This is the second of a series of two briefing notes published by the Restructuring & Insolvency practice of Arendt on recent or ongoing legislative changes in matters of insolvency law at Luxembourg and EU levels.
The Restructuring Directive ensures that entrepreneurs and companies in financial difficulties can seek support at an early stage in order to keep their business going. Where there is a likelihood of insolvency, Member States must give debtors the opportunity to access a preventive and flexible restructuring framework that enables them to restructure their business in order to prevent insolvency.
This note aims at summarising the expected changes to Luxembourg insolvency law resulting from the Draft Bill.
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.