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Clifford Chance

10 BOULEVARD G.D. CHARLOTTE, BP, 1011 LUXEMBOURG
Tel:
Work +352 48 50 50 1
Email:
Web:
http://www.cliffordchance.com

Luxembourg

Banking, finance and capital markets
Banking, finance and capital markets - ranked: tier 1

Clifford Chance

Jointly headed by Steve Jacoby and Marc Mehlen, Clifford Chance’s three-partner team provides ‘an excellent service’ to corporates, private equity sponsors and banks on cross-border deals involving a Luxembourg financing structure. Jacoby is also active on restructuring and insolvency and has been a key part of the firm’s global efforts for bondholders and new money providers on Abengoa’s €13bn restructuring. He also advised the lead arrangers on a €450m multicurrency revolving facility agreement for the Belron Group. Christian Kremer is also recommended.

Leading individuals

Steve Jacoby - Clifford Chance

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Commercial, corporate and M&A
Commercial, corporate and M&A - ranked: tier 1

Clifford Chance

As well as its expertise in financial services M&A, Clifford Chance also provides ‘a business-oriented service’ to private equity sponsors and corporates across a range of traditional M&A and real estate-related acquisitions. Christian Kremer recently advised a Chinese consortium on the acquisition of Robert Bosch’s Starter Motors Generators business. Katia Gauzès is also recommended.

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Dispute resolution
Dispute resolution - ranked: tier 1

Clifford Chance

Leveraging the firm’s strong base of institutional financial services clients and also well positioned to handle multi-jurisdictional disputes thanks to its wide-ranging international network of offices, Clifford Chance is regularly involved in the most significant mandates in the market. Practice head Albert Moro provides corporate, employment and real estate law dispute expertise and counsel Olivier Poelmans is ‘outstanding’.

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Employment
Employment - ranked: tier 1

Clifford Chance

Headed by Albert Moro, Clifford Chance’s eight-strong team has ‘broad and deep knowledge of the labour code’, enabling it to handle a wide cross-section of work including matters relating to collective bargaining and employee benefits. The team is particularly strong in handling matters within the financial services sector. Counsel Isabelle Comhaire is recommended.

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IP and IT
IP and IT - ranked: tier 3

Clifford Chance

At Clifford Chance, counsel Isabelle Comhaire regularly handles data protection work for financial services clients.

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Investment funds
Investment funds - ranked: tier 1

Clifford Chance

One of the best in the alternative funds space’, Clifford Chance provides ‘deep analyses’ to financial institutions, investment firms and asset managers on the legal and regulatory aspects pursuant to the structuring, implementation, management and servicing of investment funds. ‘Excellent’ team head Joëlle Hauser worked alongside the firm’s Beijing office on the establishment of a European investment fund for the Industrial and Commercial Bank of China that is focused on projects in Central and Eastern Europe. Paul van den Abeele and senior associate Alexander Wagner, who has ‘a high level of law and market knowledge’, are other names to note.

Leading individuals

Joëlle Hauser - Clifford Chance

Next generation lawyers

Alexander Wagner - Clifford Chance

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Private equity
Private equity - ranked: tier 1

Clifford Chance

Clifford Chance’s four-partner team acts for many leading global private equity sponsors including CVC, which it recently advised on its €1bn acquisition of Corialis from Advent International, and Clayton, Dubilier & Rice which it acted for on its €780m acquisition of But. Christian Kremer and Katia Gauzès are the primary contacts for private equity M&A work, while Joëlle Hauser and Paul Van den Abeele regularly handle fund formation work for private equity clients.

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Real estate and construction
Real estate and construction - ranked: tier 1

Clifford Chance

Led by Albert Moro, Clifford Chance’s multi-disciplinary team is ‘a growing presence in the real estate market’ and provides an ‘excellent’ service to clients engaged in real estate-related acquisition finance, funds-related work, as well as leasing and zoning mandates. Sébastien Schmitz provides ‘thorough and precise’ advice on issues relating to office and commercial lease contracts and property acquisitions.

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Tax
Tax - ranked: tier 1

Clifford Chance

The ‘pragmatic and results-oriented’ team at Clifford Chance regularly handles complex cross-border tax structuring advice and stands out for its ‘technical ability and industry knowledge’. François-Xavier Dujardin is appreciated for his ‘international experience’ and recently advised Capstone Asset Management on the tax structuring associated with its acquisition of the Zalando headquarters in Berlin. Counsel Maxime Budzin provides ‘reactive and practical advice’ on direct and indirect tax matters.

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Further information on Clifford Chance

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Latin America: International firms

Legal Developments by:
Clifford Chance

Legal Developments in Luxembourg

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Free movement of workers: new provisions on equal treatment and minimum pay for highly qualified wor

    Equal treatment
  • Free movement of workers: new provisions on equal treatment and minimum pay for highly qualified wor

    Equal treatment
  • 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).