LUXEMBOURG Law and Practice Contributed by: Fabio Trevisan and Laure-Hélène Gaicio-Fievez, BSP
14. Outlook 14.1 Proposals for Dispute Resolution Reform The reform of arbitration law came into effect on 25 April 2023, and was introduced by the law of 19 April 2023 modifying the NCPC. Drawing inspiration from both the UNCITRAL Model Law on International Commercial Arbitra- tion and French arbitration law, this framework seeks to enhance the adaptability, effectiveness, and attractiveness of the arbitration process as a means for parties to resolve their conflicts. Key aspects of the reform address the arbitra- bility, validity and separability of the arbitration agreement, the intervention of a state court, the role of the supporting judge, and the enforce- ability and annulment of awards.
14.2 Growth Areas In recent years, a consistent trend has emerged in our ADR practice, particularly in the area of funds litigation. The success of Luxembourg’s funds market has naturally led to a rise in dis - putes within this sector, a development we can measure tangibly. These disputes encompass a wide range of issues, including conflicts between investors and funds, disputes among asset man- agement companies and limited partners, and various disputes involving service providers. Banks, in particular, frequently find themselves involved in such disputes.
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