Romain Sabatier and David Al Mari contributed to the latest edition of the International Insolvency & Restructuring Review by Beaumont Capital Markets with a Luxembourg chapter.

In the article, they discuss the uncertain consequences of the new Article 536-2 of the Commercial Code.

"The lack of nuance of the provisions of Article 536-2 will most certainly have an adverse effect on the various strategies and practices devised by legal experts for pulling companies from bankruptcy," says Romain Sabatier. "A literal application of the article, providing for the dissolution of each and every company upon closure of bankruptcy, takes the opposite direction of the current European legislative trend," David Al Mari adds.

The International Insolvency & Restructuring Review presents the latest innovations, data, developments and trends within the global field of corporate restructuring, insolvency and distressed debt.

Source: Beaumont Capital Markets - June 2023

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