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Loyens & Loeff

18-20 RUE EDWARD STEICHEN, 2540 LUXEMBOURG
Tel:
Work +352 46 62 30
Fax:
Fax +352 46 62 34
Email:
Web:
https://www.loyensloeff.lu
Amsterdam, Arnhem (Oosterbeek), Brussels, Dubai, Hong Kong, London and 7 more

Luxembourg

Banking, finance and capital markets
Banking, finance and capital markets - ranked: tier 2

Loyens & Loeff

At the ‘commercial’ four-partner team at Loyens & Loeff, the ‘experiencedJudith Raijmakers advised the syndicate of lenders on the $1.5bn financing of Ternium Investments, part of which was used to finance the acquisition of Thyssenkrupp Slab International. Vassiliyan Zanev has ‘a wealth of experience in structured finance deals’; Anne-Marie Nicolas is ‘client-oriented’; and ‘constructive and helpful’ senior associate Antoine Fortier is responsible for developing the firm’s fund finance offering.

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Commercial, corporate and M&A
Commercial, corporate and M&A - ranked: tier 2

Loyens & Loeff

Headed by Thierry Lohest, Loyens & Loeff’s ‘responsive’ five-partner team handles cross-border public and private equity M&A transactions, where it is able to draw on the firm’s ‘first-rate’ tax structuring capability. Guy Palmaers advised Ring International Holding on its €520m sale of the Helios Group to Kansai Paint. Michael Scott is ‘adept at identifying innovative legal solutions within the Luxembourg framework’ and Jean-Baptiste Beauvoir-Planson has ‘a commercial’ approach and focuses on corporate and M&A work with a French nexus.

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Dispute resolution
Dispute resolution - ranked: tier 2

Loyens & Loeff

Loyens & Loeff provides ‘a responsive’ service to clients across a range of financial and corporate litigation, both independently as well as alongside other offices within the firm’s Benelux network. Team head Véronique Hoffeld and senior associate Farah Jeraj ‘make a very good team and are excellent at client management’. Hoffeld is representing an investor in the enforcement of an arbitral award, rendered under the ICSID procedure. Cécile Henlé regularly handles tax litigation.

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Employment
Employment - ranked: tier 3

Loyens & Loeff

Loyens & Loeff’s team head Annie Elfassi has ‘extensive employment law knowledge’ and provides ‘proactive and effective’ advice to employers on the employment law aspects of reorganisations, as well as on pensions and benefits matters where clients also benefit from advice which often includes input from the firm’s accomplished tax team.

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IP and IT
IP and IT - ranked: tier 3

Loyens & Loeff

At Loyens & Loeff, generalist commercial and litigation lawyer Véronique Hoffeld, who handles e-commerce, data protection and IP-related commercialisation work, is representing a multinational luxury fashion company in a case concerning alleged breach of copyright and community design infringement.

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Investment funds
Investment funds - ranked: tier 2

Loyens & Loeff

Headed by Marc Meyers, Loyens & Loeff’s three-partner team provides an ‘outstanding’ service across the panoply of regulatory, transactional and operational issues impacting the alternative funds market. Thibaut Partsch recently advised EQT on the structuring and establishment of a new unregulated Luxembourg private equity fund platform. The ‘creative and knowledgeableMax Welbes is ‘experienced in non-standard structures’, particularly those involving a German nexus.

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Private equity
Private equity - ranked: tier 2

Loyens & Loeff

Loyens & Loeff provides ‘a professional and responsive’ service on fund formation and complex M&A matters. Guy Palmaers and Michael Scott, who is ‘becoming a leader at implementing complex private market strategies’, are recommended.

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Real estate and construction
Real estate and construction - ranked: tier 2

Loyens & Loeff

Closely integrated with its strong tax offering, Loyens & Loeff’s team provides effective advice on a range of transactional, real estate-related structuring and disputes work. Véronique Hoffeld assisted multinational dairy company Fage with the acquisition of several land plots to construct a new factory.

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Tax
Tax - ranked: tier 1

Loyens & Loeff

Co-headed by Jochem van der Wal and Pieter Stalman, Loyens & Loeff’s ‘high-quality’ eight-partner team has the critical mass to handle a tremendous volume and breadth of work across direct and indirect tax on a standalone basis and in tandem with corporate and investment management practitioners at the firm. Cecile Henlé has ‘an excellent knowledge of international tax structuring’ and is ‘proficient with complex fiscal realities’. Simon Paul ‘combines technical expertise with practical application’. At an associate level, the ‘client-oriented and business-minded’ Georges Simon and Nadège Le Gouellec are noted.

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Further information on Loyens & Loeff

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Legal Developments by:
Loyens & Loeff

  • New reporting obligations for Luxembourg securitisation vehicles

    Recognising the close links between the securitisation activities of financial vehicles corporations engaged in securitisation transactions (FVCs) and monetary financial institutions, the European Central Bank (ECB) has adopted on December 19, 2008 Regulation (EC) No 24/2009 concerning statistics on the assets and liabilities of FVCs (the ECB Regulation).
    - Loyens & Loeff

Legal Developments in Luxembourg

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Luxembourg Stock Exchange unveils Securities Official List for non-traded securities

    The Luxembourg Stock Exchange has launched the Securities Official List, a dedicated section of the exchange’s official list that enables securities to be listed without requiring them to be admitted to trading on either its regulated Bourse de Luxembourg or Euro MTF market. The SOL, which involves a simplified and rapid registration process, is specifically designed for issuers seeking only the visibility of having their securities on a recognised official list and for which admission to trading is not essential, but that can benefit from the enhanced distribution and diversification of their investor base the new listing section offers.
  • New double tax treaty between France and Luxembourg: substantial impact on real estate investors

    On 20 March 2018, the governments of France and Luxembourg signed a new double tax treaty (“New Treaty ”) replacing the current treaty dated 1 April 1958 (“Old Treaty ”). Although the New Treaty is based on the 2017 OECD Model Tax Convention, it contains certain substantial derogations therefrom.
  • Luxembourg in space, one step ahead [video]

    ​​Discover Luxembourg's space adventure and the challenges the space industry will face in the next decade. Arendt & Medernach, the leading law firm in Luxembourg, continuously supported the space and satellite industries and have developed the firm’s expertise and experience in these domains. We are now really looking forward to helping other businesses on their journeys into space. Should you require more information, please contact Laurent Schummer , Bob Calmes and Blazej Gladysz .
  • Cross-border distribution of investment funds: a proposal for harmonisation

    Reducing barriers for cross-border distribution of investment funds within the EU, thus reducing the costs of going cross-border, while deepening the single marketing procedure for investment funds is the proclaimed purpose of the two legislative proposals published by the EU Commission today, on 12 March 2018. According to the EU Commission proposal, the envisaged harmonisation of rules for cross-border distribution should occur through a new directive amending both the UCITS and AIFM Directives with regard to the cross-border distribution of collective investment funds, and through a new regulation on facilitating cross-border distribution of collective investment funds and amending the EuVECA Regulation (Regulation on European venture capital funds) and the EuSEF Regulation (Regulation on European social entrepreneurship funds).
  • Clarification of the scope of the UCITS and AIFMD depositary regimes

    A significant number of so-called Part II UCIs may remain within the scope of the AIFMD depositary regime. Luxembourg’s Parliament ( Chambre des Députés ) has voted yesterday to amend the respective legislation to this effect. This amendment clarifies the scope of the UCITS-like and the AIFMD depositary regimes in Luxembourg for these funds.
  • New anti-money laundering rules in Luxembourg

    On 14 February 2018, the law of 13 February 2018 implementing a substantial part of the 4th anti-money laundering directive (4th AML Directive) was published in the Official Journal of Luxembourg. The law will enter into force on 18 February 2018.
  • Outsourcing made easier: professional secrecy in the financial and insurance sector softened

    Through the law of 27 February 2018 implementing the EU regulation (UE) 2015/751 on interchange commissions for card based payments, which amends various laws relating to the financial sector (and was published in the Luxembourg official gazette on March 1st 2018), the Luxembourg parliament has now relaxed the rules on professional secrecy for banks, investment firms, other regulated professionals of the financial sector, payment institutions, electronic money institutions and insurance undertakings (together the « financial institutions ») to facilitate outsourcing arrangements.
  • Permanent exemption from variation margin obligation for FX forwards?

    Earlier this week, the European Supervisory Authorities (ESAs) published draft amendments to EMIR-related regulatory technical standards (RTS) that align the treatment of variation margin (VM) for FX forwards with the supervisory guidance applicable in other key jurisdictions. More specifically the draft amendments propose that the requirement to exchange VM for physically settled FX forwards shall only target transactions between institutions (credit institutions and investment firms).
  • Luxembourg introduces draft legislation to create beneficial ownership registers

    Luxembourg’s government has published draft legislation to incorporate into national law the requirements under articles 30 and 31 of the European Union’s Directive 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, better known as the 4th Anti-Money Laundering Directive. Placed before the Chamber of Deputies on December 6, 2017, draft law no. 7217 would establish a central register of beneficial owners of Luxembourg legal entities such as companies and partnerships under the authority of the minister of justice, while draft law no. 7216 would create a similar register of beneficial owners of fiduciary contracts, that is express trusts, under the authority of the Administration de l’Enregistrement et des Domaines, Luxembourg’s indirect tax authority.
  • CSSF sets out more restrictive policy on UCITS investment in non-UCITS funds

    Luxembourg’s Financial Sector Supervisory Authority (CSSF) has announced changes to its policy regarding investment by UCITS funds in non-UCITS undertakings for collective investment, amending the guidance contained in its Frequently Asked Questions document addressing the law of December 17, 2010 on undertakings for collective investment. In the interests of convergence at EU level regarding the UCITS regime, the CSSF now says that UCITS may no longer invest in other UCIs and those that have done so are required to divest their holdings as soon as possible, unless the eligibility of each target fund has been confirmed specifically through case-by-case analysis.