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  • 24-04-2018

A significant number of insolvencies and public acknowledgement of a shortage of appropriate instruments to deal with companies facing financial difficulties led to an ambitious reform of Luxembourg insolvency law in 2009. This project, which aimed to favour reorganisation over liquidation, eventually resulted in Bill 6539 on business continuity and the modernisation of bankruptcy law (the ‘Insolvency Bill’), filed on 1 February 2013 by Justice Minister Francois Biltgen.

Source: Times Group - April 2018

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