As with the rest of the world, the Covid-19 pandemic has been affecting the operation of companies registered in Luxembourg in multiple ways. With new challenges lying ahead owing to this unprecedented health and economic crisis, local economic stakeholders have had to revisit their business models and prioritise short-term strategies to ensure the viability of their businesses, particularly by consolidating/improving their cash-flow positions and safeguarding profitable business segments.
In practice, the initiatives taken by businesses are manifold. Where possible, existing contracts with various stakeholders have been renegotiated or terminated. Force majeure and material adverse change clauses (MAC) have been invoked to suspend e…
Read the full article at: https://www.iflr.com/article/b1nf2p9jf6cm4h/corporate-insolvency-amp-restructuring-report-2020-covid19-special-focus-luxembourg
