Update on investment fund investor protection rules
On 29 March 2024, the CSSF published Circular CSSF 24/856 (the ‘Circular 24/856’) on the protection of investors in the event of NAV calculation errors, non-compliance with investment rules and other errors at the level of a UCI. Circular 24/856 replaces the previous CSSF circular 02/77 and will come into force on 1 January 2025. […]
Conflict between shareholder agreement and articles of association of a company: what prevails?
In a pending procedure in front of the Luxembourg Commercial Court, one party (Company 1) disputed the mandate of the other party’s (Company 2) legal counsel. According to its articles of association, Company 2 was managed by 5 managers. The articles of association provided the terms according to which the company was duly bound (joint […]
balance of rental charges: who should the tenant pay in case of sale
In a judgment of 27 March 2023, the Luxembourg Court recalls the rules regarding the transfer of rights and obligations between the seller and the purchaser of a building already rented at the time of the sale. The date to be taken into account to verify whether there is a transfer of the rights arising […]
The new law on moral harassment at work in Luxembourg is published
In Luxembourg, there was no legal framework for moral harassment (unlike in the Grand Duchy’s neighbouring countries and unlike sexual harassment, which has had a legal framework in Luxembourg since 2008). A draft law was filed 23 July 2021 in order to provide a legal framework for moral harassment (see our article here). The new […]
Private reasons residence permit : Recent Case Law
According to the Luxembourg Law on Immigration of 2008 (the “Law of 2008”) a third country national with sufficient resources may apply for a private reasons residence permit in Luxembourg (Article 78 (1) a) of the Law of 2008). The criteria of “sufficient resources” is appreciated with reference to the Luxembourg unqualified minimum salary. In […]
What is the minimum salary to apply for a EU Blue Card in Luxembourg (update December 2022)?
Third-country nationals that want to apply for a highly qualified work permit (EU Blue card) must meet certain requirements. One of the requirements, is to have an offer for a remuneration of at least: Option 1: 1.5 times the amount of the Luxembourg average gross annual salary or; Option 2: at least equivalent to 1.2 […]
Coworking spaces subject to AML Regulation?
The modified Law on Anti-Money Laundering and Combating of the Financing of Terrorism of 12 November 2004 (“AML Law”) applies to a number of professionals, including “trust and company service providers” (“TCSPs“). TCSPs are currently defined in the AML LAW as follows (Article 1(8) AML): any natural or legal person who provides, by way of […]
lease eviction orders to be suspended until 31 March 2023
A draft law (n°8076) has been filed on 3 October 2023 to extend the suspension for lease eviction orders to 31 March 2023. The drat law aims to suspend the execution of evictions ordered in relation to residential leases. It should be noted that the evictions ordered in divorce cases when the enjoyment of the […]
Duty of loyalty in case of a bank account freezing measure?
In Luxembourg, it is possible for a creditor to freeze a debtor’s bank accounts held with a Luxembourg bank. The measure is, in the first instance, protective. The bank is served with a writ of attachment which has the effect of freezing the account of the debtor. The creditor will then have to validate the […]
food delivery platform found guilty for using clandestine delivery drivers
A company was using “freelance” delivery drivers through its online platform (the “Food Delivery Company”). The platform was using the now worldwide well-known model where the client would order food through an online website. Delivery drivers would register on an application where they would indicate the time slots they would be available to make deliveries. […]
