The Legal 500

Linklaters LLP

What we say about the firm's legal practice in Luxembourg

Banking and finance

Within Banking and finance, Linklaters LLP is a first tier firm,

Linklaters LLP’ three-partner group is led by Janine Biver, who is recommended for her experience in general banking and finance matters, as well as specialising in complex fiduciary structures, securitisation, and structured finance. Peter Geortay is also recommended. Nick Kayser is commended for banking and finance matters, as well as debt capital markets. The group recently advised Hugo Boss, as well as assisting on client APAX Partners on the refinancing of IEE, a leading company in the automotive safety sensors industry. Clients also include Dexia, Fortis and Commerzbank International. Guy Loesch is recommended for banking litigation.

Corporate and M&A

Within Corporate and M&A, Linklaters LLP is a first tier firm,

Linklaters’ 25 fee-earner team includes four partners. Tom Loesch heads the team, and specialises in corporate law, M&A, real estate structures, private equity and equity-linked capital markets. In the private equity sphere, the practice advises an impressive list of clients such as KKR, CVC, Merrill Lynch, and Candover. The group recently assisted APAX Partners in their large refinancing of IEE International Electronics & Engineering. On the real estate side, the group has assisted AXA real Estate Investment Managers and AXA private equity on a number of leading real estate deals.

Dispute resolution

Within Dispute resolution, Linklaters LLP is a first tier firm,

Guy Loesch, who heads the team at Linklaters has experience in both litigation and arbitration. The team has been involved in several high profile dispute resolutions, including its continuing assistance to both Luxair and its insurer, in relation to a highly-reported crash in 2002. The group has also assisted Clearstream in relation to a defamation claim.

Employment

Within Employment, Linklaters LLP is a second tier firm,

René Diederich heads the employment practice at Linklaters where clients include major financial institution and asset managers such as AXA, Deutsche Bank, Lloyds TSB, and Morgan Stanley, as well as industrial enterprises such as ArcelorMittal and Coca-Cola. The team recently advised Tele2 on the employment issues relating to its sale to Belgacom. The team also has experience in handling pension issues for major institutional clients.

IP and IT

Within IP and IT, Linklaters LLP is a third tier firm,

Following Emmanuelle Ragot’s decision to leave the firm in 2008, Edouard Delosch now heads Linklaters’s practice. The team has expertise in the data protection field, particularly as Delosch was previously a member of the Luxembourg Data Protection Authority. The team recently assisted a life insurance company in relation to regulatory and data protection issues relating to the implementation of outsourcing activities in the insurance sector.

Insurance

Within Insurance, Linklaters LLP is a first tier firm,

Marc Loesch heads Linklaters’ well-regarded insurance practice where clients include JC Flowers, Fortis, La Mondiale Group, and Clerical Medical. Loesch is a member of an advisory committee of the Luxembourg Insurance Regulator.

Investment funds

Within Investment funds, Linklaters LLP is a first tier firm,

Linklaters’ investment management team has been involved in the structuring of innovative structured fund platforms for investment banks and asset management houses. Freddy Brausch, who heads the practice, is co-chair of the AFLI, Luxembourg’s industry body’s legal and regulatory affairs, where he is in charge of international affairs. Francine Keiser, who is also recommended, is co-chair of the ALFI working group on eligible assets for UCITS III funds. The team assisted Morgan Stanley Investment Management in launching Emerging Markets, Special Situations and 130/30 Sub-Funds in their flagship fund platform.

Legal market

Within Legal market,

Four firms dominate the jurisdiction, Arendt & Medernach demonstrates strength across the board and is the largest firm in the region, with around 250 lawyers. The firm also benefits from its network of offices in Dubai, Brussels and London. Elvinger, Hoss & Prussen is another leading independent firm, while Allen & Overy Luxembourg and Linklaters LLP are among the privileged international firms to have made their mark in Luxembourg.

Tax

Within Tax, Linklaters LLP is a second tier firm,

Led by Paul Tulcinsky, Linklaters is often involved in complex multi-juristictional tax advice, and the team benefits from its links within the firm’s global tax network. Recent standout mandates include advising Orlando Management in connection with a dual track process that resulted in the sale of the SG Sealing Group. Tulcinsky is recommended for his expertise in the setting up of acquisition vehicles in Luxembourg. Jean-Yves Lhommel, who has significant experience in international tax law, especially in the field of private equity and real estate acquisition structures, is also recommended.


What we say worldwide

Please choose another Linklaters LLP office to view full details of what we say in that region, or choose from this list to view a specific editorial reference in context.

United Arab Emirates

Offices in Dubai

Belgium

Offices in Brussels and Antwerp

China

Offices in Shanghai and Beijing

Germany

Offices in Berlin, Frankfurt, Munich, and Dusseldorf

Algeria

Spain

Offices in Madrid

France

Offices in Paris

Hong Kong

Offices in Hong Kong

Indonesia

India

Italy

Offices in Rome and Milan

Japan

Offices in Tokyo

Jordan

Cayman Islands

Lebanon

London

Offices in London and London

Luxembourg

Offices in Luxembourg

Libya

Morocco

Netherlands

Offices in Amsterdam

Oman

UK Overview

Philippines

Poland

Offices in Warsaw

Portugal

Offices in Lisbon

Qatar

Russia

Offices in Moscow

Scotland

Sweden

Offices in Stockholm

Singapore

Offices in Singapore

South Korea

Thailand

Offices in Bangkok

Tunisia

US

Offices in New York

Vietnam

Legal Developments in Luxembourg

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Getting the Deal Through - Insurance & Reinsurance 2009 - Luxembourg chapter

    Identify the regulatory agencies responsible for regulating insurance and reinsurance companies. The Commissariat aux Assurances (the Commissariat) is in charge of the supervision of insurance and reinsurance undertakings, as well as insurance intermediaries (agents and brokers). It is in charge of examining the applications for licences. The Commissariat also assists the Luxembourg public authorities in European and international negotiations. It takes an active part to the preparation of Luxembourg laws and regulations within its field of competence. The Commissariat is a public establishment vested with legal personality and is financially independent. It is under the authority of the ministry of treasury and budget.
    - KLEYR GRASSO ASSOCIES
  • Getting the Deal Through - Dispute Resolution 2009 - Luxembourg Chapter

    What is the structure of the civil court system? The Luxembourg court system is organised according to the principle of ‘double court instance’, pursuant to which any case may be judged twice by two different courts, both upon the factual and legal merits. As a result, a major distinction is to be drawn up between the first degree courts and the courts of appeal.
    - KLEYR GRASSO ASSOCIES
  • The Handbook of Competition Enforcement Agencies

    A Global Competition Review special report published in association with: Wildgen
    - Wildgen
  • WITHHOLDING TAX ON DIVIDENDS DISTRIBUTED BY A FINNISH COMPANY TO A LUXEMBOURG SICAV IS DISCRIMINATOR

    This judgement gives possibilities to investment funds to claim a refund of withholding taxes unduly paid in the Member States where they made investments.
    - Wildgen
  • THE DE LAROSIÈRE REPORT

    The current financial crisis has highlighted the possible side effects of the globalisation and, to a certain extent, proves a certain weakness of the European Union in this respect.
    - Molitor, Fisch & Associés
  • Luxembourg-Hong Kong Double Tax Treaty: The Best of Both Worlds

    On 20 January 2009, the bilateral treaty for the avoidance of double taxation between the Hong Kong SAR and the Grand-Duchy of Luxembourg (the Treaty) entered into force in both jurisdictions. The Treaty has retroactive effect, and is applicable as from 1 January 2008 with respect to Luxembourg and as from 1 April 2008 with respect to Hong Kong.
    - Wildgen
  • DOUBLE TAX TREATY (“DTT”) BETWEEN LUXEMBOURG AND THE UNITED ARAB EMIRATES

    Luxembourg currently has 52 double tax treaties in force and 22 in the course of negotiation or ratification. An interesting addition to this is the recently ratified double tax treaty between the United Arab Emirates (UAE) and Luxembourg (the “DTT”) which aims to enhance economic cooperation between both countries.
    - Wildgen
  • Unemployment Benefit in Luxembourg

    In these financially precarious times, it is an unfortunate reality that more and more people in Luxembourg (as elsewhere) are having recourse to unemployment benefit as companies downsize to cope with the crisis. It is important therefore to know our rights to unemployment benefit ( chômage ) often for peace of mind as much for anything else. This article shall deal only with employees ( salariés ). Self-employed people can receive unemployment benefit (contrary to popular opinion) but this shall not be treated here. It must be stated from the outset that social security legislation is horrendously complex and intricate and each particular case must be judged on its merits. A general overview shall, however, try to be given here.
    - Wildgen
  • A recently established treaty has eased the passage for investors operating between Asia and Europe

    Earlier this year Luxembourg and Hong Kong put into motion a double taxation treaty offering international investors an interesting tax planning tool for investing into or out of Asia. Structuring investments through these locations has been made easier with this new treaty presenting straightforward opportunities to eliminate or mitigate direct taxes on the flow of income and profits from the countries where the target investment is located to the country where the ultimate investors or their investment vehicles are located.
    - Oostvogels Pfister Feyten
  • Luxembourg and the proposed Alternative Investment Fund Managers Directive (AIFM)

    As part of a legislative package to tackle the financial crisis, the European Commission submitted on 29 April 2009 a Directive on Alternative Investment Fund Managers (“AIFM”) to the European Parliament and to the Council. This proposal emerged rather swiftly following a general consensus across European leaders that AIFM, which managed around EUR 2 trillion in assets at the end of 2008, should be subject to closer regulatory scrutiny. This proposed Directive marks the first attempt to create a comprehensive and effective supervisory and regulatory framework for AIFM in the European Union (“EU”) by imposing on European investment managers of non-UCITS investment funds a common set of rules in terms of licensing and supervision. In return, AIFM would benefit from a European passport for cross-border distribution to EU professional investors. The main innovations focus on the regulatory supervision, the disclosure requirements and the distribution of Alternative Investment Funds (“AIF”). Key elements of the proposed Directive are set out below. However, it should be pointed out that those proposals will only introduce a minimum threshold for Member States, and countries such as France and Germany will probably pass harsher requirements.
    - Chevalier & Sciales