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By Constantin ISCRU, Counsel, Finance Projects and Xavier GUZMAN, Partner, Finance Projects DLA Piper Luxembourg
Introduced by a law dated 10 July 2020 (PPG Law), the professional payment guarantee (PPG) is the result of an accelerated legislative process made possible by the alignment of both professional and public demands for a new type of guarantee in a context marked by the Covid-19 pandemic and the looming Brexit.
In the context of Brexit, some European institutions as well as Luxembourg financial institutions initiated a gradual transition away from English law to other continental European laws, especially Luxembourg law, which is known for its pragmatic, agile and reliable approach. While the Law on financial collateral...
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