CSSF Newsletter No 279 – April 2024
Discover the latest publications of the CSSF and the statistics relating to the financial sector
News
SUSPENSION OF PAYMENTS: OPPORTUNITE LUXEMBOURG S.A. – APPOINTMENT OF AN ADMINISTRATOR
In accordance with Article 122 of the Law of 18 December 2015 on the failure of credit institutions and certain investment firms, the Tribunal d’arrondissement de et à Luxembourg (Luxembourg District Court) dealing with commercial matters, decided, by a judgement of 28 March 2024 to admit OPPORTUNITE LUXEMBOURG S.A. to the benefit of the payment suspension procedure, following a request from the CSSF dated 18 March 2024. By the same judgement, Me Yann Baden, attorney-atlaw (avocat à la Cour), has been appointed as administrator in order to control the management of the assets of OPPORTUNITE LUXEMBOURG S.A. The written authorisation by the administrator is required for all actions and decisions of the institution.
SUSPENSION OF PAYMENTS OF OPPORTUNITE LUXEMBOURG S.A. – ACTIVATION OF THE LUXEMBOURG INVESTOR COMPENSATION SCHEME (SIIL)
On 28 March 2024, the Tribunal d’arrondissement de et à Luxembourg (Luxembourg District Court) dealing with commercial matters, decided by a judgement to admit OPPORTUNITE LUXEMBOURG S.A. to the benefit of the payment suspension procedure, following a request of the CSSF dated 18 March 2024 (Press release 24/10). As a result, the Luxemburgish investor compensation scheme SIIL is activated, in accordance with Article 197(1) of the amended Law of 18 December 2015 on the failure of credit institutions and certain investment firms (“law of 2015”). The SIIL reimburses claims resulting from the incapacity of OPPORTUNITE LUXEMBOURG S.A. to: • repay money owed to or belonging to eligible clients and held on their behalf in connection with investment business; or • return to eligible clients any instruments belonging to them and held, administered or managed on their behalf in connection with investment business, up to 20,000 euros, in accordance with Article 196 of the law of 2015. The communiqué is available at: https://www.cssf.lu/en/2024/04/suspension-ofpayments-of-opportunite-luxembourg-s-a-activationof-the-luxembourg-investor-compensation-schemesiil/.
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