While the COVID-19 pandemic continues to deeply impact our societies, the Luxembourg Chamber of Deputies voted a law extending the possibility for companies and other legal entities to hold shareholder, board and other meetings without the need for participants physical attendance (i.e. in writing or through call or videoconference), even if not provided in the company’s articles of association.

The law also extends until the end of June 2021 the suspension of the obligation to file for bankruptcy in case of cessation of payments. While the obligation is suspended, companies still have the option (and based on economic circumstances may be obliged) to file for bankruptcy. Creditors may also petition for bankruptcy.

This law entered into force on 25 November 2020, extending the measures of the law of 23 September 2020, which was due to expire on 31 December 2020.

For more information, please contact Nicolas Marchand or Cédric Bless.