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By Olivier MARQUAIS, Senior Associate, Litigation and Risk Management, Loyens Loeff Luxembourg*
In the event of significant loss of value of an investment, breach of the company’s articles of association, of the 1915 law on commercial companies or of the relevant fund legislation, shareholders, creditors and other potential claimants are likely to experience evidentiary hurdles. The documents necessary to evidence the existence of a potential misconduct and connect it to one’s contractual obligations to establish its liability, may solely be in the possession of third parties. If these are potential adverse parties in a litigation case, they may not be supportive and may reject outright requests for information and documents. While there is no common law...
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