Housing projects planned by a developer in Luxembourg will continue despite the firm’s subsidiary in the Grand Duchy entering insolvency proceedings, the company’s CEO has insisted, the Luxembourg Times reported. Capelli Lux, the Luxembourg arm of French property group Capelli, began insolvency proceedings on Monday, casting doubt over the future of a major construction project in Howald, the South Village project. It follows a decision by the Paris Commercial Court on 3 December 2025 to convert the Capelli group’s receivership into liquidation proceedings.
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Capelli Lux, the Luxembourg arm of French property group Capelli, has entered insolvency proceedings, casting doubt over the future of a major construction project in Howald, the Luxembourg Times reported. On Monday, insolvency proceedings were filed with the Luxembourg Trade and Companies Register for Capelli Lux, the developer of the stalled South Village project. It follows a decision by the Paris Commercial Court on 3 December 2025 to convert the Capelli group’s receivership into liquidation proceedings.
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Bernie Madoff went to jail in 2009 and died in 2021. His Ponzi scheme, one of the biggest frauds in Wall Street history, is still haunting the finance industry. HSBC said that it would set aside $1.1 billion as it continues to fight litigation in Luxembourg, the Wall Street Journal reported. The lawsuit, filed by a client soon after the collapse of Madoff’s scheme, alleged that Europe’s biggest bank had failed to protect its assets.
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Creditors to Altice International have chosen Houlihan Lokey as their financial adviser for upcoming debt negotiations with the company, according to Bloomberg. The formal appointment of Houlihan Lokey has not yet been completed. The creditor group, which is already working with law firm Gibson Dunn & Crutcher, has also extended their cooperation agreement through March. This agreement was originally established earlier this year and was scheduled to expire this month. Altice International is part of billionaire Patrick Drahi’s telecommunications empire, which has been facing challenges.
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