Usual Luxembourg security package

Luxembourg is one of the leading domiciles worldwide for international investment portfolio acquisition vehicles.

Acquisition financing are usually secured against the assets and cash flows of the target company as well as of the buyout vehicle.

In practice, given that a Luxembourg holding company generally does not have any operational activities, shares, receivables and cash on bank are the most important assets to cover.

During the past several weeks the Azerbaijani Parliament has adopted a number of laws, introducing amendments to the Law On Banks, the Civil Code, the Civil Procedure Code, the Administrative Procedure Code, the Law On Telecommunications and the Law On Licenses and Permits.

We summarize the major aspects of above-mentioned amendments below.

Law “On Introducing Amendments to the Law 'On Banks'"

On April 7, 2017, the Azerbaijani Parliament passed in the first reading a Draft Law “On Introducing Amendments to the Law "On Banks" (the “Draft Law”).