_Regulation (EU) 2017/2402 of the European Parliament and of the Council of 12 December 2017 laying down a general framework for securitisation and creating a specific framework for simple, transparen...
Practice Area - Banking & Finance
Luxembourg introduced the mechanism of securitisation by a law dated 22 March 2004 (the “Law of 2004”). One of the governing principles of the Law of 2004 is the “freedom of contract” principle, allowing the parties to define their respective rights and obligations.
Furthermore, the Law of 2004 lays down the legal framework securing the investors and the creditors of the securitisation undertaking, insofar as a securitization undertaking can be constituted of several compartments each corresponding to a distinct part of its assets and liabilities. A securitisation transaction in Luxembourg benefits from highly favourable tax provisions and is, in most cases, even neutral from a tax perspective.
Our team is particularly experienced in national and international securitisations and works closely with financial institutions and niche investment and finance firms to develop non-traditional products and structure securitisations in non-traditional markets. Our lawyers are active in a wide range of aspects of the implementation of securitisation transactions, from structuring, financing and acquisition to management throughoutthe investment period, restructuring and liquidation.
Our experience includes all types of assets and asset-backed securities:
- Aircraft Leases,
- Commercial Mortgage Loans,
- Consumer Installment Loans,
- Distressed Debt,
- Equipment Leases,
- Franchise Loans,
- Insurance Receivables,
- Residential Mortgage Loans,
- Synthetic Securitisations,
- Trade Receivables.
_Regulation 2017/1129/EU of the European Parliament and of the Council of 14 June 2017, on the prospectus to be published when securities are offered to the public, or admitted to trading on a regulat...
Next Step in the Creation of a Capital Markets Union: Public Consultations Regarding the EU Regulatory Framework of the Financial Sector
In the framework of the creation of a Capital Markets Union (“CMU”)1, the European Commission issued on the 18th of February 2015 a Green Paper on the subject marking the beginning of a three month co...
The Luxembourg Supervisory Authority for the Financial Sector (Commission de Surveillance du Secteur Financier – the “CSSF”) issued on 23 October 2013 its updated “Frequently Ask Questions” on securit...
Potential impacts of the new Luxembourg law on alternative investment fund managers adopted on 10 July 2013, effective since 15 July 20131, and implementing the Directive 2011/61/EU of the European Pa...