Insolvency law

The lawyers in our practice may infrequently act as trustees in collective proceedings. Nevertheless, we are regularly called upon to advise or represent professional trustees in court proceedings. Similarly we can, when required, assist creditors of companies that are bankrupt or in compulsory liquidation, for example, by advising them on ways of obtaining offsetting of mutual claims from the bankrupt debtor.

One of the difficulties that  may confront trustees is that of an order for the seizure of assets from a bankrupt entity. The difficulty in analysing such situations is increased in cases of international bankruptcy. In a more general sense, the law on collective proceedings is such as to introduce considerable disruption into the normal operation of the rules of law, particularly through the principle of the stay of proceedings brought by individual creditors. On this context, we are called upon to defend company directors against actions regarding individual liability,  possibly initiated by creditors who present themselves as victims of the dealings of the directors of a company subjected to  the regime of collective proceedings. Finally, we have considerable experience in the matter of the realization of guarantees in accordance with the Luxembourg law of 5 August 2005 concerning financial collateral arrangements.