Insolvency exception in the Lugano Convention, the Brussels Convention, Brussels I, Brussels I (recast), the Hague Convention
Insolvency exception in the Lugano Convention, the Brussels Convention, Brussels I, Brussels I (recast), the Hague Convention

The following Restructuring & Insolvency guidance note provides comprehensive and up to date legal information covering:

  • Insolvency exception in the Lugano Convention, the Brussels Convention, Brussels I, Brussels I (recast), the Hague Convention
  • Brexit impact
  • The conventions/regulations in the Brussels regime
  • The insolvency exception
  • Scope of the insolvency exception—the Brussels regime and the Jenard Report
  • Scope of the insolvency exception—the insolvency regime and the Virgos-Schmit Report
  • Interplay between the Brussels regime and the insolvency regime
  • Practical examples arising from the case law
  • INSOL Europe: European Insolvency Regulation Case Register—guidance from other countries

Brexit impact

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, see Practice Note: Brexit—impact on Recast Regulation on Insolvency.

Additionally, the Civil Jurisdiction and Judgments (Amendment) (EU Exit) Regulations 2019, SI 2019/479 were made on 4 March 2019 to address the deficiencies which arise from the withdrawal of the UK from the EU by amending legislation including Civil Jurisdiction and Judgments Act 1982 and repealing/revoking certain Retained EU legislation. This legislation is in force from exit date (as defined in the EU(W)A 2018, ss 20(1)–(5)).

The main impact is to repeal/revoke:

  1. Council Regulation (EC) 44/2001 of 22 December 2000 on jurisdiction and the recognition and enforcement of judgments in civil and commercial matters (Brussels