FRAUDULENT TRANSFER: THE PAYMENT SERVICES LAW PROTECTS THE BANKER OF THE PAYEE

(Court of Appeal, 4th ch., 7 March 2023, judgment no. 39/23 IV) The decision of the Court of Appeal of 7 March 2023 (now res judicata) is worth highlighting in relation to the issue of the liability of the banker, or more generally the payment service provider (the “PSP”), when it executes a transfer that […]

TRANSFERT FRAUDULEUX : LA LOI SUR LES SERVICES DE PAIEMENT PROTÈGE LE BANQUIER DU BÉNÉFICIAIRE DU PAIEMENT

(Cour d’appel, 4e ch., 7 mars 2023, arrêt n° 39/23 IV) La décision que la Cour d’appel a rendue le 7 mars 2023 (aujourd’hui coulée en force de chose jugée), mérite d’être soulignée par rapport à la question de la responsabilité du banquier, ou plus généralement du prestataire de services de paiement (PSP), lorsque celui-ci […]

MOLITOR advised on Luxembourg law aspects of the restructuring of OHL group

COVID-19 AND ANNUAL GENERAL MEETING: A PRACTICAL HANDBOOK

Luxembourg: Law of 10 July 2020 on professional payment guarantees

Armel Waisse and Laurent Henneresse have contributed to the winter 2020/2021 edition of Eurofenix, INSOL’s quarterly journal. INSOL is an organisation of professionals who specialise in insolvency, business reconstruction and recovery.

Payment Moratoria and State Guarantee Scheme: A review of two key tools in response to the COVID-19 crisis

Introduction In response to the spread of COVID-19 across the globe, a variety of economic relief measures have been taken and proposed by national governments and EU bodies in order to support individuals, households and businesses affected by the crisis and facing difficulties with the timely repayment of their financial commitments. As Luxembourg is approaching […]

Professional payment guarantees: an innovative legal tool for financial transactions

The law of 10 July 2020 regarding professional payment guarantees (the“PPG Law”)[1] introduces a new and flexible type of personal security (sûreté personnelle) in the Luxembourg legal environment, which is expected to become a not-to-be-missed tool in the coming years. Professional payment guarantees will certainly rival some foreign instruments, such as English law guarantees and […]