Rely on the most comprehensive, up-to-date legal content designed and curated by lawyers for lawyers
Work faster and smarter to improve your drafting productivity without increasing risk
Accelerate the creation and use of high quality and trusted legal documents and forms
Streamline how you manage your legal business with proven tools and processes
Manage risk and compliance in your organisation to reduce your risk profile
Stay up to date and informed with insights from our trusted experts, news and information sources
Access the best content in the industry, effortlessly — confident that your news is trustworthy and up to date.
Find up-to-date guidance on points of law and then easily pull up sources to support your advice with Lexis PSL
With over 30 practice areas, we have all bases covered. Find out how we can help
Our trusted tax intelligence solutions, highly-regarded exam training and education materials help guide and tutor Tax professionals
Regulatory, business information and analytics solutions that help professionals make better decisions
A leading provider of software platforms for professional services firms
In-depth analysis, commentary and practical information to help you protect your business
LexisNexis Blogs shed light on topics affecting the legal profession and the issues you're facing
Legal professionals trust us to help navigate change. Find out how we help ensure they exceed expectations
Lex Chat is a LexisNexis current affairs podcast sharing insights on topics for the legal profession
Discuss the latest legal developments, ask questions, and share best practice with other LexisPSL subscribers
Kate Stephenson and Sacha Lürken, partners at Kirkland and Ellis International LLP consider the potential practical implications for the cross-border European restructuring and insolvency landscape of a ‘no deal’ Brexit, in the context of recent developments.
UK legislation to deal with the impact of a ‘no deal’ Brexit in the restructuring and insolvency market was enacted at the end of January. The prospect of Brexit is evolving rapidly-almost daily-amid opposition to the negotiated deal and calls for a second referendum.
A negotiated Brexit would involve a transition period, currently anticipated to end on 31 December 2020. The draft Withdrawal Agreement confirms that the EU Insolvency Regulation and the EU Judgments Regulation (important for cross-border recognition of schemes of arrangement) would continue to apply to insolvency proceedings/judgments commenced before the end of the transition period. This means it would be ‘business as usual’ for European cross-border restructurings and insolvencies until the end of 2020. Recognition for later proceedings is left open for negotiation (during the transition period), and is much more uncertain. At the time of writing, it remains highly uncertain whether the UK Parliament will approve the draft Withdrawal Agreement, or any revised agreement.
Accordingly, the UK and the EU continue to step up preparations for a ‘no deal’ Brexit.
Access this article and thousands of others like it free by subscribing to our blog.
Read full article
Already a subscriber? Login
0330 161 1234