As a non-EU member, Norway has never been a part of the European Insolvency Regulation (EIR), and the international elements of Norwegian Insolvency law have arguably been ready for revision for decades.

After Brexit it is highly likely that the EIR will no longer apply to Britain, and Britain will be in a similar situation as EIR outsiders like Norway and Denmark. The question of mutual recognition of bankruptcies between EIR-countries and “outsiders” therefore seems to be a hotter topic after Brexit.

Siv Sandvik looks at the benefits of using Norsk Tillitsmann ASA as an independent bond trustee