Companies & entities
Insolvency and judicial reorganisation in Luxembourg
A business in difficulty in Luxembourg has, since the Law of 7 August 2023 on the preservation of businesses, access to reorganisation procedures designed to avoid bankruptcy (a stay, an amicable settlement, judicial reorganisation). The firm advises both debtors and creditors, from the initial review through to the procedure.
In short
In Luxembourg, the law of 7 August 2023 on business preservation offers companies in difficulty reorganisation procedures to avoid bankruptcy: stay, amicable agreement, judicial reorganisation. Acting early, before cessation of payments, leaves more options; the firm advises both debtors and creditors.
Responsible for legal content: Maître Cora Maglo, Avocate à la Cour, Liste I du Barreau de Luxembourg depuis 2009. · Applicable law: Luxembourg
Insolvency and judicial reorganisation in Luxembourg: key points at a glance
| Item | What to know |
|---|---|
| Fees | On a quote basis. Depending on the procedure and the complexity of the matter; an initial assessment is provided in consultation. |
| Indicative timing | Timeframes depend on the procedure; prevention, however, requires acting without waiting for the cessation of payments. |
| Documents required |
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| Deliverables |
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The reform of 7 August 2023 modernised Luxembourg insolvency law, placing the emphasis on prevention and on preserving viable businesses, alongside traditional bankruptcy.
Acting early is decisive: the earlier the situation is reviewed, the more reorganisation options remain open. Cerno Law Firm assesses the situation and defends your interests.
Insolvency and judicial reorganisation in Luxembourg: when should you call on the firm?
Your business is in difficulty, or you are a creditor of a defaulting company.
The right steps are taken early, before any cessation of payments.
What happens if you do nothing?
An undeclared cessation of payments, directors\' liability, lost chances of reorganisation, or claims not lodged with the liabilities.
Waiting reduces the options and worsens the exposure.
How does the firm step in?
A review of the situation, the choice of procedure (prevention, judicial reorganisation, bankruptcy), and representation and defence of rights.
On the creditor side: lodging and defending claims.
Practice areas
When to call on the firm
- Anticipate financial difficulties.
- Initiate a judicial reorganisation.
- Lodge a claim in a bankruptcy.
- Defend a director facing proceedings.
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FAQ
Frequently asked questions
What did the Law of 7 August 2023 change?
It reformed Luxembourg insolvency law by introducing prevention and reorganisation procedures to preserve viable businesses, beyond bankruptcy alone.
When should you act?
As early as possible: prevention and reorganisation require acting before any cessation of payments, which must in any event be declared within the legal deadlines.
Does the firm act for creditors?
Yes. The firm also assists creditors: lodging claims, monitoring the procedure and defending their rights.
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Founded in 2013; Maître Cora Maglo has been admitted to the Luxembourg Bar since 2009
- 2013
- independent firm
- 2009
- at the Bar since 2009
- 4,7/5
- 81 Google reviewsRead reviews
Expertise & authority
Ongoing review and analysis of Luxembourg and European case law
Avocate à la Cour, List I of the Luxembourg Bar since 2009
Trained at the London School of Economics, formerly at Clifford Chance and Bonn Steichen & Partners
Member of international networks: EILN, AEA, Cross Border Advisory Solutions
Every matter handled and approved by a lawyer admitted to the Bar
Support in French and English
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What our clients say
Selected excerpts from public reviews. Consult the Google listing for all ratings and comments; a testimonial does not guarantee a legal outcome.
Had a consultation with Me Cora Maglo about my Luxembourg Blue Card application. She explained everything clearly: the process, timeline and documents I need, and helped me with my wife’s family reunification too. Honest and practical advice. I felt confident after talking to her.F. P.J’ai beaucoup apprécié le service de Maître Maglo : son sérieux, sa sympathie, son professionnalisme et sa disponibilité. Toujours répondu rapidement et clairement, avec des conseils pragmatiques, sans pousser à des procédures longues et coûteuses lorsqu’elles ne sont pas justifiées.N. W.Super assistance and great support! Highly recommend. All my questions were answered, Cora and her team kept me updated all the time. I will definitely reach out to them next time for my residency.T.They talk about us
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