GENERAL GUIDING PRINCIPLES: On 25th April 2023, a law came into force that reforms the Luxembourg New Civil Procedure Code in relation to arbitration (the “Law”). The Law aims to modernize and enhance the internal Luxembourg arbitration legal framework with a view to making Luxembourg a more attractive jurisdiction for international arbitration and relieving the [...]
RJ Gaito and Baker & Hostetler are representing a Luxembourg investor in an Energy Charter Treaty claim against the Republic of Slovenia before the International Centre for Settlement of Investment Disputes (ICSID). On behalf of our client Towra S.A.-SpF, we recently filed a request for arbitration against the Republic of Slovenia with the World [...]
OverviewThe EU formally acceded to the convention of 2 July 2019 on the Recognition and Enforcement of Foreign Judgments in Civil or Commercial Matters in August 2022 (the “Convention”).The Convention will enter into force on 1 September 2023.To date, the Convention has been signed by Uruguay, Ukraine, Israel, Costa Rica, Russia, and the United States; only [...]
Luxembourg law firm RJ Gaito, Israeli tax law firm - Ben Ami, Bigon & Co (@Ben Ami, Bigon & Co) and Martin Hollywood (@Martin Hollywood) of PWC advised Solaer Renewable Energies Ltd (@Solaer renewable energy Ltd) on the implementation of their Luxembourg and international project finance platform.Following the implementation of the investment platform, RJ Gaito [...]
Highlights and Market OutlookThe Luxembourg law of 5 August 2005 on financial collateral arrangements (the “Law”) has served as a highly effective mechanism for structuring credit transactions and collateral arrangements that are primarily structured at the level of Luxembourg holding companies and their subsidiaries. The Law is perceived by the market to protect creditors rights [...]
Luxembourg business law firm rj gaito welcomes Harry Ghillemyn who will be leading its Finance & Restructuring practice. Prior to joining the firm, Harry was a managing associate at Linklaters and counsel at Goodwin where he represented major private equity firms and credit institutions responsible for the firm’s debt, capital markets and restructuring offering. He [...]
In light of ongoing events across Russia and Ukraine, several Western countries including the US, the EU, the UK and Switzerland have imposed new sanctions on Russia and Belarus related businesses significantly extending existing sanctions and export controls. The current sanctions include restrictions on several Russian financial institutions, regional embargoes, blocking measures, sovereign debt [...]
Best Wishes 2022 We are pleased to be celebrating our 11th year in business. Although 2021 has been another year dominated by the global pandemic, we have been able to execute interesting work relating to the structuring of international investment platforms, corporate reorganizations, venture capital transactions and advise on stock option plans. We were equally successful in [...]
Introduction: Article 37 of GDPR requires the appointment of a Data Protection Officer (“DPO”). The appointment of a DPO is a critical compliance requirement and recent decisions of the Luxembourg Data Protection Commission (a.k.a the “CNPD”) illustrate the implications of a failure to appoint a DPO, as well as the failure to adhere to GDPR’s [...]
GENERAL GUIDING PRINCIPLES: Modernization of the Luxembourg civil and commercial judicial rules. Revaluations of the court thresholds. The lower courts (“juge de paix”) have jurisdiction in civil and commercial cases for up to EUR 15,000. Restrictions on appeal. All judgments below EUR 2,000 are non-appealable. Procedural changes. Appeals from the lower courts will follow the [...]
