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  • 16-06-2021

The law of 5 August 2005 on financial collateral agreements, as amended (the 2005 law), provides an attractive legal framework for creditors as its insolvency ring-fencing provisions protect security rights over qualifying collateral governed thereby from any national or international insolvency proceedings. 

On 13 February 2020 the Luxembourg Arrondissement Court 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.

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