New Luxembourg Insolvency Law Reform
Part 2: Creditors’ Agreement: the Restructuring Plan
Over the summer, we highlighted the main features of the new Luxembourg law on the preservation of businesses and modernising bankruptcy law (the “Law”).
In a previous publication, we took a closer look at the stay of proceedings (sursis). In this second in-depth alert, we are focusing on the collective agreement with creditors and the restructuring plan, one of the key features of the new judicial reorganisation procedure.