On the 6 February 2023, the Grand-Ducal regulation of 3 February 2023 amending the amended Grand-Ducal regulation of 23 January 2003 executing the amended law of 19 December 2002 on the trade and company register (the “TCR”) and the accounting and annual accounts of companies (hereinafter the “GDR”) was published on the Luxembourg Mémorial (official gazette). The GDR entered into force on the 10 February 2023, amended the list of companies to be automatically removed from the TCR and introduced new provisions regarding the consultation of the insolvency register.
Amended list of companies to be automatically removed from the TCR
Further to the adoption of the law of 28 October 2022 creating the procedure of administrative dissolution without liquidation (the “Law creating the procedure of administrative dissolution without liquidation”), the GDR supplements the list of companies/entities that shall be automatically removed from the TCR in certain circumstances, such as:
- commercial companies whose administrative dissolution procedures without liquidation have been closed;
- commercial companies whose insolvency proceedings have been closed, with the exception of companies:
- whose insolvency proceedings have been closed prior to the entry into force of the Law creating the procedure of administrative dissolution without liquidation (i.e. prior to the 1 February 2023) and
- which have updated their registrations in the TCR after the judgment closing the insolvency proceedings.
New provisions regarding the consultation of the insolvency register
The GDR states that the search for data in the insolvency register can be made based on:
- the name of the natural person trader, the name or business name of the legal person or entity registered with the TCR or by means of the TCR registration number;
- the name or business name of the judicial representative, when such a representative has been registered with the TCR.
In addition, the TCR administrator is now entitled to issue extracts from the insolvency register. Those extracts supply a limited list of information such as the identity of an appointed judicial liquidator and attest that no decision in connection with an insolvency proceeding is registered with the TCR.
See more details on the procedure of administrative dissolution without liquidation in our previous BSP Newsflash.
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