Elvinger Hoss Prussen

Under the leadership of Xavier Le Sourne (investment fund partner based in Paris) and with the assistance of senior associate Jean-François Revelant and associate Justine Blanc-Deleuze, Elvinger Hoss Prussen assisted Kite Lake Capital MANAGEMENT (UK) in setting-up a master-feeder structure composed of two Luxembourg RAIFs following a hedge fund strategy, focusing primarily on significant pricing dislocations in distressed investments. #ElvingerHossPrussen #LegalAdvice #RAIF

NEWSFLASH | Law of 15 July 2024 on the transfer of non-performing loans – passage of Bill of law 8185 On 18 July 2024, the Law of 15 July 2024 on the transfer of non-performing loans (the “NPL Law”) was published in Luxembourg’s Official Gazette.  The NPL Law aims to create a legal framework for the transfer of non-performing loan agreements and a new category of professionals of the financial sector, namely credit servicers. For more details on the content of the NPL Law, please find our article on Bill of law No 8185 here 👇 https://lnkd.in/e_rkj3-w For more information about the new law with respect to the GDPR, you can read our related article here 👇   https://lnkd.in/enz4GcDw #elvingerhossprussen #NPLLaw

NEWSFLASH - New Bill of Law Introducing Major Tax Reliefs On 17 July 2024, the Luxembourg Minister of Finance presented to Parliament a bill of law (the “Bill”) providing a certain number of measures aiming at strengthening the purchasing power of households and consolidating the competitiveness of businesses so as to emerge from the current polycrisis. Click the link below to read the full article and find answers to the following questions: · What measures for companies and funds? · What measures for Luxembourg talent attraction? · What measures for households? 👉 https://lnkd.in/edsPh4bf #elvingerhossprussen #luxembourglaw #tax

NEWSFLASH -- Digital Operational Resilience Act (DORA): publication of the second batch of EU policy products and of the Luxembourg law implementing DORA   On 17 July 2024, the European Supervisory Authorities (“ESAs”) finalised the second batch of DORA level 2 texts complementing the regulatory obligations under Regulation (EU) 2022/2554 on Digital Operational Resilience for the financial sector (“DORA Regulation”). The DORA Regulation indeed mandated the ESAs to prepare jointly a set of policy products with two main submission deadlines to the European Commission on 17 January 2024 (first batch) and 17 July 2024 (second batch). However, the level 2 rules on subcontracting of critical or important functions (Article 30(5) of DORA), which were also expected to be included in the second batch (and which were eagerly awaited by financial entities and ICT third party service providers) are still to be finalised and the ESAs indicated in their press release that these remaining level 2 rules will be published “in due course”.  A few days before, the Luxembourg law of 1 July 2024 implementing certain aspects of DORA and transposing Directive (EU) 2022/2556, which aims to include a cross-reference to DORA in financial sector directives with a view to ensuring compliance with DORA as regards the organisational requirements to be put in place by financial entities, was also published in the Luxembourg official gazette (“DORA Law”). In this context, the Commission de Surveillance du Secteur Financier (“CSSF”) and the Commissariat aux Assurances (“CAA”) have been designated as competent authorities in Luxembourg responsible for ensuring the compliance of their respective supervised financial entities with DORA, and have been vested with the supervisory, investigatory and sanctioning powers necessary for the performance of their duties within the limits defined by DORA. Like DORA, the DORA Law as well as the first batch and second batch of EU policy products will start to apply as from 17 January 2025. This Newsflash focuses on the second batch of DORA EU level 2 supplementing texts published by ESAs on 17 July . Click below to read the full article 👇 https://lnkd.in/ez4xTgus #elvingerhossprussen #legaladvice #dora

Assisting Providence Equity Partners in the acquisition of VivaGym Group. Elvinger Hoss Prussen assisted Providence Equity Partners in the acquisition of the VivaGym Group, a leading operator of affordable gyms in Iberia, developing across several cities including Lisbon, Barcelona, Madrid, Valencia, Porto, Zaragoza and Bilbao. The team was led by partner Anna Hermelinski-Ayache, working in collaboration with senior associate Grégoire Bissa and associates Teresa Valero Martin, Michele Mancuso and Quentin Berlenguer. #ElvingerHossPrussen #LegalAdvice #MergersAndAcquisitions

In light of our continued support of #LuxembourgPride and of our “Pride in Diversity” initiatives, we are happy to be hosting, for a couple of weeks, an exhibition on LGBTIQ history and culture in Luxembourg, initiated by the association Rosa Lëtzebuerg. We celebrated the opening with our members around a convivial get-together lunch where we had the pleasure of welcoming Nicolas Van Elsué, president of Rosa Lëtzebuerg.  #ElvingerHossPrussen #PrideInDiversity #CelebrateInDiversity 

NEWSFLASH - On 10 July 2024, the Luxembourg parliament passed the law based on the Bill of law No. 7642 entitled "Lease reform – apartment sharing – invested capital regime". The Law recasts the Law of 21 September 2006 on residential leases and amending certain provisions of the Civil Code, and amends Article 1714 of the Civil Code. It will come into force on the first day of the month following its publication in the Journal Officiel, i.e. probably on 1 August 2024. Read the full article here 👇 https://lnkd.in/eARCRmMS Lisez l'article en français ici 👇 https://lnkd.in/ecQV9gVd #ElvingerHossPrussen #LegalAdvice #RealEstateLaw Michel Nickels

NEWSFLASH - In today’s fast evolving financial landscape, credit institutions must integrate Environmental, Social, and Governance (“ESG”) risk management into their internal governance frameworks. This shift is not merely a regulatory requirement but a strategic necessity to mitigate financial risks and enhance long-term resilience. CRD VI was published on 19 June 2024 with an implementation deadline until 10 January 2026. It sets out a comprehensive framework for ESG risk management for credit institutions and certain investment firms.  Read the full article here: 👇 https://lnkd.in/eWkaHUQH #ElvingerHossPrussen #CRDVI #ESG #riskmanagement Pit Reckinger André Hoffmann Henri Wagner Katrien Veranneman Tiago Nogueira Karolina Szpinda-Orlando

We’ve teamed up for equality and celebrated diversity!   Around 40 of our members took part in the second edition of yesterday’s Luxembourg #PrideRun in Luxembourg City. By participating in this charity race, we support the Luxemburgish #LGBTIQ associations, Rosa Lëtzebuerg, Centre LGBTIQ CIGALE, in their projects to defend equal rights.   As head sponsor of #LuxembourgPride, we believe in creating an equal and inclusive workplace and are committed to raising awareness around diversity in society.   Read more on our website : https://lnkd.in/eUjhFVt5   #ElvingerHossPrussen #Pride #PrideInDiversity #CelebrateDiversity #Inclusion #Luxembourg #Community #SocialCommitment #Luxembourg

✔ WORK HIGHLIGHT - Under the leadership of Xavier Le Sourne (investment fund partner based in our Paris office) and with the assistance of senior associates Kenza Bensaid and Jean-François Revelant, and associate Justine Blanc-Deleuze, Elvinger Hoss Prussen assisted Bluegem Capital Partners in establishing two Luxembourg alternative investment funds (AIF), one SCSp and one RAIF, to serve respectively as co-investment and pooling structures. #ElvingerHossPrussen #legaladvice #AIF