Since 31 January 2020 (exit day), the UK is no longer an EU Member State. For further details, see Practice Note: Brexit—impact on Recast Regulation on Insolvency. However, the EU Recast Regulation on Insolvency still applies between the current EU Member States (see Practice Note: List of EU member states and official languages for R&I lawyers (Member State to Member State)).
Substantial reforms were made to the Regulation (EC) 1346/2000 on insolvency proceedings (the EC Regulation on Insolvency) by Regulation (EU) 2015/848 of the European Parliament and of the Council of 20 May 2015 on insolvency proceedings (OJ L141/19), Recast Regulation on Insolvency (EU Recast Regulation on Insolvency). For the full text of the EU Recast Regulation on Insolvency, click here.
Although the EU Recast Regulation on Insolvency entered force on 26 June 2015, the majority of the provisions were only effective from 26 June 2017 onwards—this was to allow Member States to familiarise themselves with the new provisions (a Corrigendum was published by the EC on 21 December 2016 clarifying...
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