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AMENDMENTS TO THE LUXEMBOURG FINANCIAL COLLATERAL LAW IMPROVING COLLATERAL TAKERS’ POSITION

October 2011 - Finance. Legal Developments by MOLITOR Avocats à la Cour.

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On 20 May 2011 a law was passed transposing into Luxembourg law the EU directive 2009/44/EC amending, in particular, the socalled Collateral Directive (directive 2002/47/EC of the European Parliament and the European Council of 6 June 2002). This Law modifies the Luxembourg Law of 5 August 2005 on Financial Collateral Arrangements.

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