The Allen & Overy Luxembourg podcast
Podcast: Luxembourg - a leading hub for alternative investments and a hedge against uncertainty

Podcast: Luxembourg - a leading hub for alternative investments and a hedge against uncertainty

November 27, 2020

Today, Luxembourg is widely used as a hub to set up alternative investment funds (so-called upstream or fund formation) and to structure and execute transactions at the funds’ investment portfolio level (so-called downstream transactions). 

In this podcast, Natacha Oskian (head of business development) is joined by Peter Myners (partner and co-head of [Global] Alternative Investment Initiative) and Patrick Mischo (office senior partner) to discuss the main features of the Luxembourg alternative investment space and how it has been adjusting to the Covid-19 crisis.

They will also discuss what makes Luxembourg so special and distinct from other countries and examine some of the changes alternative investment managers are experiencing today.  

Capital call financing - why and how?

Capital call financing - why and how?

October 8, 2020

The popularity and volume of capital call financings (also called subscription lines or equity bridge facilities) have steadily increased over the past few years (including in Luxembourg) and this trend is here to stay. In this podcast Bénédicte Kurth (Counsel, Banking), Joanna Pecenik (Counsel, Investment Funds) and Yannick Arbaut (Partner, Investment Funds) explain the logic and key features of capital call financings.

Bill 7637: a new era for crypto-securities?

Bill 7637: a new era for crypto-securities?

September 28, 2020

Luxembourg is about to add the missing piece to its legislative framework to enable the issuance of crypto-securities using decentralised ledger technology (“DLT”).

In this podcast, Natacha Oskian is joined by Philippe Noeltner, a lawyer and associate who is part of Allen & Overy’s Luxembourg International Capital Markets team, to discuss the following:

  • the objectives of Bill 7637 concerning the issuance of dematerialised securities on DLT devices, such as blockchain and Ethereum;
  • the importance of Bill 7637 for Luxembourg Capital Markets ecosystem and how this Bill may lead to a new era for crypto-securities in Luxembourg;
  • the use of DLT-based wallets to operate an issuer’s issuance account, and investors’ securities accounts;
  • how both legal certainty and investor protection are ensured; and
  • grey areas and opportunities.
Podcast #3: AML/CTF – Recent Luxembourg developments: focus on Fintech

Podcast #3: AML/CTF – Recent Luxembourg developments: focus on Fintech

September 17, 2020

The inclusion of virtual asset service providers in the scope of the AML Act 2004 and the additional restrictions on the use of anonymised e-money instruments showcase the need to address the “Fintech” spread in the financial sector and to mitigate the potential threats they pose to the current AML/CTF framework. Counsel Carole Schmidt and Senior Associate Baptiste Aubry discuss the implications of those measures while reminding of the need to embrace new technologies and the bright side of legal or reg-tech as powerful tools to improve AML/CTF processes, for both customers and professionals.

Podcast #2: AML/CTF – Recent Luxembourg developments extraterritorial effects of the AML Act 2004

Podcast #2: AML/CTF – Recent Luxembourg developments extraterritorial effects of the AML Act 2004

September 10, 2020

Counsel Thomas Berger and Senior Associate Baptiste Aubry discuss the extraterritorial effects of the AML Act 2004 in light of the recent implementation of 5MLD into Luxembourg law. They shed some light on the impact of these effects on obliged entities and on the particular measures to apply where high-risk countries are in the picture.

Podcast #1: AML/CTF – Recent Luxembourg developments: updating your CDD processes

Podcast #1: AML/CTF – Recent Luxembourg developments: updating your CDD processes

September 3, 2020

Partner Henri Wagner, Counsel Carole Schmitt and Counsel Thomas Berger discuss Luxembourg’s implementation of 5MLD and how obliged entities should adapt to these new rules in their approach to CDD.

Luxembourg M&A Market: Dealmaking in the time of Covid-19 coronavirus

Luxembourg M&A Market: Dealmaking in the time of Covid-19 coronavirus

June 11, 2020

In this episode, partner Jacques Graas and senior associate Pol Theisen discuss the status of the Luxembourg M&A market and the key considerations for sellers/buyers in light of the ongoing Covid-19 crisis.

The new Luxembourg bill on professional payment guarantee

The new Luxembourg bill on professional payment guarantee

June 4, 2020

In this podcast, Partner, Henri Wagner and Counsel, François-Guillaume de Liedekerke introduce you to the recent draft of a law which, under Luxembourg law, aims to establish a new regime of professional guarantee of payment and guide you on how you can benefit from such a regime in the context of international financial transactions.

State aid and transfer pricing: Fiat and Starbucks decisions

State aid and transfer pricing: Fiat and Starbucks decisions

May 18, 2020

The European Commission has been using state aid law to challenge advance pricing agreements (APAs) given by some member states to multinationals over the last few years.

In this context, on 24 September 2019, the General Court of the European Union has rendered its first individual decisions, i.e. the Fiat and the Starbucks decisions: while the Court considered that the APA granted by Luxembourg to Fiat constituted a selective advantage, it has on the contrary annulled the Commission's decision that the APA granted by the Netherlands to Starbucks was unlawful state aid.

In this podcast Sophie Balliet (Counsel, Tax) and Jean Schaffner (Partner, Tax) of Allen & Overy Luxembourg will discuss both decisions and their likely impact.

Covid-19 crisis: overview of key measures and considerations for the Luxembourg financial sector

Covid-19 crisis: overview of key measures and considerations for the Luxembourg financial sector

May 7, 2020

In this podcast, Partner Henri Wagner, Counsel Carole Schmidt and Senior Associate Baptiste Aubry guide you through the Covid-19 crisis measures in place for the Luxembourg financial sector and make recommendations on how to take advantage of these measures while complying with regulators' expectations.

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