Brexit: impact on cross-border insolvency rules explained

Author: IFLR Correspondent | Published: 18 Sep 2017

The UK’s wholesale adoption of EU laws on Brexit will result in an imbalanced and inconsistent cross-border insolvency regime that could be damaging for both the UK and the EU

The UK's decision to exit the European Union is dominating our political and legislative landscape. The succinctly titled European Union (Withdrawal) Bill 2017-19 (more colloquially known as the Great Repeal Bill) currently under consideration proposes, in addition to what is said on the tin, to adopt all EU laws then in force into domestic law en bloc and by so doing avoid a legal black hole. The legislature will then be empowered to disapply or amend such laws as and when it sees fit following Brexit. The impact of this ostensibly pragmatic step on our insolvency and restructuring laws and the UK legal and restructuring industry is potentially significant....


 

 

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