Implications for cross-border insolvencies and restructurings
01 July 2016
English insolvency and restructuring procedures are well regarded on the global stage, providing a flexible and comprehensive toolkit which is well regarded internationally.
None of this changes as a result of the UK electorate’s decision to vote in favour of leaving the EU. The UK’s cross-border insolvency and restructuring regime has provided a solid, predictable backdrop for commercial counterparties when structuring cross-border deals and making investment decisions. One part of this attractiveness is the recognition currently afforded to certain English insolvency procedures across Europe. This paper seeks to identify and analyse the potential impact of Brexit on the UK’s cross-border insolvency and restructuring regime and the recognition of these procedures across Europe and to help clients assess whether they should be taking any immediate actions in this regard.