The following Restructuring & Insolvency practice note Produced in partnership with Skadden Arps Slate Meagher & Flom (UK) LLP provides comprehensive and up to date legal information covering:
As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an implementation period, during which it continues to be subject to EU law. References to exit day in many Brexit SIs are to be read as reference to IP completion day (Implementation Period completion day, defined in clause 39 as 31 December 2020 at 11.00 pm) (unless that provision is expressly disapplied by the SI in question). For further details, see News Analysis: Brexit—impact of the Withdrawal Agreement and European Union (Withdrawal Agreement) Act 2020 for R&I lawyers and Brexit Bulletin—key updates, research tips and resources. For further details of the impact on the Recast Regulation on Insolvency, see Practice Note: Brexit—impact on Recast Regulation on Insolvency.
For the impact on credit institutions under the Credit Institutions and Insurance Undertakings Reorganisation and Winding Up (Amendment) (EU Exit) Regulations 2019, SI 2019/38, see Practice Note: Brexit—exploring the draft Credit Institutions and Insurance Undertakings Regulations 2018.
For the impact on insurers under the Credit Institutions and Insurance Undertakings Reorganisation and Winding Up (Amendment) (EU Exit) Regulations 2019, SI 2019/38 , see Practice Note: Brexit—exploring the draft Credit Institutions and Insurance Undertakings Regulations 2018
The Recast Regulation on Insolvency, Regulation (EU) 848/2015 (Recast Regulation on
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