Ms Yoanna Stefanova

Yoanna Stefanova

Updates

Banking & Financial Services

Impact of COVID-19 crisis on liquid and illiquid funds and their managers
Luxembourg | 07 July 2020

Due to the capital markets conditions caused by the COVID-19 crisis, liquid funds may need to activate their gating provisions in order to limit redemptions, in accordance with the terms of the fund's prospectus. Further, illiquid funds, such as private equity and loan-originating funds, should consider whether the COVID-19 crisis could constitute a material adverse effect under agreements or deals that have yet to close. This article examines the impact of COVID-19 on liquid and illiquid funds and their managers.

Investment funds: recommendations for fund managers
Luxembourg | 30 June 2020

The Luxembourg Financial Supervisory Authority and the European Securities and Markets Authority are closely monitoring the COVID-19 situation and have issued a number of recommendations for fund managers concerning remote working, risk management and compliance, disclosure and reporting requirements.

Insolvency & Restructuring

Recent measures to facilitate restructuring and prevent insolvency
Luxembourg | 23 June 2017

Luxembourg recently adopted a number of legislative reforms aimed at modernising the rules applicable to commercial companies, including a number of reforms which could affect their restructuring and insolvency. Although the main purpose of these changes is to modernise the rules applicable to commercial companies and the relevant publication formalities, they may also prove useful in the framework of corporate restructuring and the prevention of insolvency.

Modernisation of Company Law: new act recognises simplified winding-up procedure
Luxembourg | 04 November 2016

Following the recent enactment of the act modernising the Company Law 1915, Luxembourg law now officially recognises the possibility for companies to be wound up by means of a simplified procedure. Although a simplified procedure had previously existed in notarial practice, it lacked a clear legal basis. The new procedure is an unquestionably useful tool which will further enhance Luxembourg's business-friendly reputation.