Any business can, at one time or another during its life cycle, be faced with difficulties. It is therefore essential to closely monitor the evolution of the business in order to detect any risk of underperformance and to react as quickly as possible in case of difficulties.
To do so, a business can use different specific instruments whose purpose is to preserve jobs and economic operations and hence to avoid bankruptcy.
This section also details the procedures which need to be followed in the event of a cessation of business or a declaration of bankruptcy.
Tools
NACE code
Business permits
TOPICS OF INTEREST
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Job protection plan
A job protection plan is a combination of various instruments designed to adapt the workforce of businesses in difficulty while keeping employees in jobs. It is used to manage the effects of planned restructuring in advance. Within the framework of...
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Weather-related layoff
In order to protect jobs and thus prevent redundancies, Luxembourg labour law allows businesses to benefit from a temporary weather-related layoff subsidy (chômage dû aux intempéries) under certain conditions. Businesses carrying out their activity on construction sites may submit an...
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Declaration of claims
If a debtor goes bankrupt, his/her creditors must declare their receivable debts with the clerk of the district court within the deadlines set by the declaration of bankruptcy order. Some receivable debts, such as salaries, are treated with priority...
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Compulsory liquidation
The consequences of a liquidation of a company leads to the disappearance of the company and its legal personality. Liquidations can be either voluntary (on decision by the partners / shareholders) or compulsory (on decision by the court). The court can...
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Voluntary dissolution/liquidation of a company
The voluntary dissolution of a business operating as a commercial company can only be decided by the shareholders/partners. The decision to carry out the dissolution of the business marks the beginning of the liquidation process and the appointment of...
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Dismissal with notice
An employer who dismisses an employee for a reason other than serious misconduct must grant a notice period and severance pay if the employee has been employed in the business for 5 years or more. If the business employs more...
