The effect of EU law on UK insolvencies is, as a general rule, limited to cross-border issues. Within the EU, the EC Regulation on Insolvency Proceedings governs all the main jurisdictional and choice of law questions that arise in international insolvencies (with the exception of the insolvencies of banks, insurers and certain investment companies).

Introduction

A referendum on whether the UK should leave or remain within the EU will take place on 23 June 2016. This briefing considers what the legal consequences of a vote to leave the EU (Brexit) might be for the UK restructuring and insolvency market. Its purpose is not to influence readers towards either the “Leave” or “Remain” camp; rather, it is intended to illustrate the legal changes that Brexit would cause and to consider how the UK might respond to those changes.

Summary