Banking & Financial Services

15 June 2021

Applicability of law on financial collateral agreements to insolvency proceedings

The law of 5 August 2005 on financial collateral agreements, as amended (the 2005 law), provides an attractive legal framework for creditors. The Luxembourg Arrondissement Court recently ruled on whether the beneficiary or pledgee of a Luxembourg law pledge granted over a bank account could benefit from the protection granted by the 2005 law with respect to insolvency proceedings initiated against his debtor prior to the entry into force of the 2005 law.

Ann Blaton Authors: Ann Blaton | Josée Weydert

Luxembourg | NautaDutilh

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