Implications for cross-border insolvencies and restructurings
09 August 2016
English insolvency and restructuring procedures are well regarded on the global stage, and for good reason. English law provides a flexible, comprehensive restructuring and insolvency toolkit which is supported by the speed of access to, and the commercial attitude of, English judges. Creditors lending to foreign companies have frequently utilised English procedures and structured their financings to ensure that they are able to do so (e.g. choosing English governing law and jurisdiction clauses in the finance documents or shifting the centre of main interests of the borrower to the UK).
None of this changes as a result of the UK electorate’s decision to vote in favour of leaving the EU.