event
11 Mar.
2021

ALJB Webinar - Beneficiary Units Under Luxembourg Law – An Empirical Legal Study of the Market Practice

Related practices

_Director Dr. Thomas Biermeyer, who specialises in corporate law, is speaking in the webinar organised by the ALJB on the topic of Luxembourg market practice of beneficiary units from an empirical perspective.

The presentation will be given by Dr. Thomas Biermeyer (Director at Wildgen and Assistant Professor at Maastricht University) and Justine Yansenne (Trainee and MCL (University of Cambridge) graduate) who have conducted an empirical study on the Luxembourg market practice of beneficiary units. Their article based on this research was awarded the ALJB Prix 2020.

Beneficiary units are corporate (finance) law instruments issuable by companies. The light regulation of beneficiary units under Luxembourg law as to their form and content allows maximum flexibility and creativity. Various questions therefore arise as to what is acceptable in terms of modalities and content of such instruments, such as: Is the information on beneficiary units commonly provided in the articles of association of a company? Which type of companies rely the most on beneficiary units? What corporate body typically issues such units? What kind of contributions are accepted in practice against the issuance of beneficiary units? What type of voting rights are associated with beneficiary units, and what are the majority and quorum rules commonly required? Is the transferability of beneficiary units often restricted?

The presentation will seek to answer the aforementioned questions by adopting an empirical approach, based on market practice and actual beneficiary units issued in Luxembourg between 2016 and the first 6 months of 2020.

The presentation will be followed by a Q&A session.

Practical details

The session will be held in English. The webinar is free of charge but reserved for ALJB members.

Registrations 

Each participant will receive a secured link on the day of the conference. This link will enable participants to access the Webex platform. Participants are requested to check, with the link they will have received, if they have access to the Webex platform before the beginning of the seminar. Unlimited places: The number of participants to the webinar is unlimited.

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