List of available cross-border insolvency and restructuring tools by country worldwide
List of available cross-border insolvency and restructuring tools by country worldwide

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

  • List of available cross-border insolvency and restructuring tools by country worldwide
  • Brexit impact
  • Cross-border tools

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.

Cross-border tools

The Recast Regulation on Insolvency (EU) 848/2015 (Recast Regulation on Insolvency), by its very nature, is binding and directly applicable to all EU Member States, with the exception of Denmark (which decided not to participate in this regulation) (see Practice Note: List of EU member states and official languages for R&I lawyers).

The UNCITRAL Model Law on Cross-Border Insolvency (the UNCITRAL Model Law) has no direct effect, but countries throughout the world are free to decide whether to adopt it, either in full or in part, with or without modifications