In the holiday season many of us jet-set to foreign shores – but do we ever think about how we might get home if our budget airline goes bust or are we just hunting for the best deals to make the pound stretch further?

The last decade has seen a number of airlines collapse or be swallowed up by competitors:

As the country recovers from the shock outcome of last Thursday’s Referendum, the question which Restructuring professionals must now consider is “what does Brexit mean for me?”. The truth is that nobody really knows. The Referendum decision is not legally binding on the UK Government and the process of the UK leaving the EU will only start once the UK has served formal notice on the EU pursuant to Article 50 of the Treaty on the European Union. This will start a two year negotiation period to effect Brexit.

On 23 June 2016 a 52% majority of the British people voted in favour of leaving the European Union. It seems likely that the immediate effect of the Brexit vote will be a degree of turmoil in the financial markets, involving, for instance a devaluation of Sterling against the Euro and of the Euro against the USD.

Chances are those well-known eloquent lyrics have stirred up some patriotic spirit from somewhere deep within even the most sporting averse of us.

With the 2016 summer of sport fast upon us the effect of the Euros, Wimbledon and the Olympics could have a significant impact on the economy (and the nerves) of the nation.

In case you have just returned from Outer Space- the UK Government has announced that it is holding a referendum on 23 June 2016 on the question:

“Should the United Kingdom remain a member of the EU or leave the EU?”

In the meantime, whilst the UK decides whether to Brexit or not, the EU Commission is taking a “business as usual” stance.

The UK’s EU Referendum on membership is looming on the horizon – What are the legal implications of a so-called “Brexit” for restructuring and insolvency professionals?

The EU Referendum Act 2015 obtained Royal Assent on 17 December 2015 and provides for the following question to be put forward for voting in a referendum in the UK until the end of 2017: “Should the United Kingdom remain a member of the EU or leave the EU?”

On January 25, 2016, the Romanian court handling the bankruptcy proceeding of Astra SA extended the deadline to file court claims against Astra SA to 17 February 2016. The initial deadline for filing was 18 January 2016. Creditors of Astra SA may wish to avail themselves of this extended deadline to file such claims in order to recover some or part of the amounts owed to them by Astra SA in the bankruptcy/liquidation proceedings.

Following on from our recent blog on ‘How the UK General Election Might Influence the Recast Insolvency Regulation’ and whether the UK will still be part of the EU in 2017 when it comes into force, we consider the ‘hokey cokey’ of the upcoming EU referendum.

The European Advocate General has today given his opinion in the “Woolworths case” (and two other cases) on the meaning of “establishment” for the purposes of determining when the duty to consult appropriate representatives is triggered under the European Collective Redundancies Directive (the Directive).

Pursuant to the issuing by the Romanian government of Government emergency ordinance no. 91/2013 on the Insolvency Code, Ordinance that has been declared unconstitutional by the Romanian Constitutional Court in October 2013, Romanian Parliament adopted a new Insolvency Law (“New Law”), maintaining some of the valuable provisions of the unconstitutional Ordinance.