2021 marks a milestone year for Loyens & Loeff – the firm reached its 30th year of practice in Luxembourg. Since its establishment in 1991, the office has grown to become the third largest law firm in the country. The management team takes a look back at 30 years of expertise, challenges and innovation in an ever-changing legal environment.

Luxembourg’s newest creditor-friendly tool 'professional payment guarantee’ (PGG) has been assessed. The PGG undoubtedly reinforces the legal certainty of the Luxembourg independent guarantees and grants it long-awaited statutory recognition. However, its contractual flexibility and bankruptcy remoteness should make it a frequently used tool, but it seems its attractiveness for creditors has not yet been noticed internationally.

By the end of 2021, many companies in Luxembourg will need to have appropriate protocols in place to facilitate whistleblowing. For some, this will be an incremental improvement. For others, this is new territory. Draft legislation has not yet been published which will mean a compressed timeline for compliance.

Lexology Getting The Deal Through provides international expert analysis in key areas of law, practice and regulation for corporate counsel, cross-border legal practitioners, and company directors and officers.

We advised The Gores Group, a global private equity firm specializing in acquiring and partnering with mature and growing businesses, on its business combination with Ardagh through which Ardagh merged its metal packaging business with Gores Holdings V, a special purpose acquisition company.

The Luxembourg Stock Exchange (LuxSE) has published on 19 August 2021, its first guidelines for the listing of SPACs on each of its markets. The guidelines aim at striking the right balance between the needs of sponsors (and other financial intermediaries) and investor protection.