An employee hired under a permanent contract lodged a claim against his former employer alleging, among other, that he had been dismissed verbally and that his dismissal was ipso facto unfair. The employer asserted that he dismissed his employee on March 24, 2020, prior to the alleged oral dismissal, with prior notice, by sending a...Continue Reading

The treasury of the Grand Duchy of Luxembourg has just issued and successfully placed another chunk of its sovereign Euro denominated bonds for the total amount of EUR 2,5 billion in order to offer some additional liquidity further to negative effects on the overall macroeconomic situation resulting from the Covid-19 pandemic. The total debt issuance...Continue Reading

According to figures recently published by the Luxembourg Commission for the Supervision of the financial sector (Commission de Surveillance du Secteur Financier or CSSF) the Luxembourg market for alternative investment funds (AIFs) reached its highest net asset value along with a record number of Luxembourg AIFs managed in 2020. As at 31 December 2020, there were 6,100...Continue Reading

Fostering entrepreneurship is a major objective for the Luxembourg economy, as presented last week by the Luxembourg minister for the Middle Classes. To this end, the minister has suggested to reform the existing legal framework in relation to business licences by implementing several measures. First of all, entrepreneurs will have a “second chance” to obtain a...Continue Reading