ESFG and ESFIL filed for bankruptcy according to an ESFG press release of today.

The draft of bill laying down a right to claim back intangible and non-fungible movable assets from a bankrupt company has been voted on June 11, 2013.

The purpose of the present article is to examine and discuss the Circular letter 11/3 dated 21 October 2011 as issued by the RCS.

Since the outbreak of the financial crisis in 2008, securities held by the banks under the form of collaterals have been subject to a drastic "resistance test" in the course of debt restructuring exercises.

This is the first 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 Luxembourg District Court has declared bankrupt the companies ESPIRITO SANTO FINANCIAL GROUP S.A. and ESPIRITO SANTO FINANCIERE S.A.

The Luxembourg District Court sitting in commercial matters has rejected the applications of ESI and RIO FORTE to be placed under controlled management.

The Act of 17 December 2021 has extended the transitional measures provided for by the Act of 23 September 2020 until 31 December 2022. In practice, Luxembourg-based companies can hold either virtual board...

Through the EU Directive on Restructuring and Insolvency of 20 June 2019 (EUR 2019/1023, "Directive"), the European Union has imposed an obligation on its member states to offer a more attractive...

The Act of 30 June 2021 has extended the possibility for Luxembourg-based companies to hold virtual board and shareholder meetings until 31 December 2021.

The Luxembourg District Court sitting in commercial matters has declared bankrupt the group parent company ESPIRITO SANTO INTERNATIONAL S.A. on 27 October 2014.

Today, the Luxembourg District Court sitting in commercial matters has rejected the applications of ESFG and ESFIL to be placed under controlled management.

The Law on the Preservation of Enterprises and Modernising Bankruptcy Law dated 7 August 2023 came into force on 1 November 2023. The Law reshaped the Luxembourg...

Liability Management Exercises (LMEs) are increasingly shaping the European restructuring landscape.

The Circular applies to credit institutions, investment firms, asset managers and alternative investment fund managers (AIFMs).

The most likely way to have an English scheme of arrangement recognised in Luxembourg would be by applying to the Luxembourg courts for an exequatur recognition procedure.

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

IFRS 9 has now been applicable for over a year, but some of its changes have often been either overseen or neglected—even when they could have a material impact on the accounts.

European distressed debtors and creditors face uncertainty regarding English law-governed debt and, more generally, their overall restructuring strategy

New Regulation (EU) 2025/2073 updates the lists of insolvency proceedings and practitioners given in Annexes A and B, thus aligning with Luxembourg's law on business preservation and modernisation of bankruptcy law.