Type of refusal
Non-delivery with a counterparty in Luxembourg
Non-delivery in Luxembourg usually means a counterparty registered as a Luxembourg company, fund vehicle, or SPV has not handed over the asset, shares, or units it contracted to deliver. What can be established now, without touching a national procedure, is who that entity is on paper and what a foreign judgment against it would actually reach. See the broader mechanics of non-delivery cases across jurisdictions.
Who is actually on the other side
Luxembourg counterparties in non-delivery disputes are typically a société anonyme, a société à responsabilité limitée, or a regulated fund vehicle such as a SICAV or RAIF. The entity that signed the subscription agreement or side letter is not always the entity holding the asset; delivery obligations are frequently routed through a management company or a depositary acting on the fund's instructions.
A public search against the Luxembourg registry information we hold shows the entity's legal form, registered office, and current officers. It does not show whether the asset itself still exists in the counterparty's hands, and it does not identify who is legally responsible for having failed to deliver it.
What to secure before the counterparty reacts
Collect every document that fixes the delivery obligation and its deadline: the subscription agreement, the side letter, correspondence confirming the asset was allocated, and any instalment payment records. A side letter is often the only document proving a delivery promise existed outside the standard fund documentation, a point covered in how a side letter can prove non-delivery.
Stop assuming continued payment protects the position. Investors who keep paying instalments while delivery fails often weaken their own claim, a pattern covered in why continued payment can undermine a delivery claim. If any of these documents will be used outside Luxembourg, the country has been party to the Apostille Convention since 3 June 1979, so authentication runs through apostille rather than full legalisation [N411]. A paid initial assessment under our refund and delivery claims service is where these documents are tested against the specific contract.
Where a judgment would have to be enforced
If a claim is brought and won outside Luxembourg, what happens next depends on where the judgment comes from. A judgment from another EU member state is recognised in Luxembourg without exequatur under the intra-EU regime [N146]. A judgment from a state that has joined the 2019 Hague Judgments Convention benefits from that regime once it applies between the two states; the EU, and with it Luxembourg, joined the Convention on 29 August 2022, and the Convention entered into force for the EU on 1 September 2023 [N156].
How a judgment travels from Luxembourg to the UK is a separate question, covered on enforcement from Luxembourg to the UK. The reverse route, enforcing a foreign judgment into Luxembourg, is addressed on enforcement into Luxembourg. The order in which such a claim is filed is established from the case materials, not published here. The firm is not paid on a contingency basis, and its registration can be checked against the public register, as explained in how to verify a law firm.