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Scottish independence and Brexit: the implications for insolvency and restructuring regimes

Introduction

European Union, United Kingdom, Scotland, Insolvency & Restructuring, Public, Shepherd and Wedderburn LLP, Brexit, UNCITRAL, European Commission, Uniform Act
What impact will Brexit have on corporate restructuring and insolvency?

The United Kingdom has voted to leave the EU. Before the referendum, we considered in detail the potential impact of Brexit in the context of restructuring and insolvency. In particular we highlighted that Brexit could have an impact on cross-border restructuring/insolvency given the UK is currently viewed as a popular jurisdiction for implementing complex cross-border restructurings and insolvencies in light the regimes being widely regarded as well established, flexible and creditor friendly.

European Union, Global, United Kingdom, Employment & Labor, Insolvency & Restructuring, Shepherd and Wedderburn LLP, Brexit
EU General Court decision challenges ING restructuring terms

Various media outlets reported on the March 2, 2012 decision of the General Court of the European Union partially upholding ING Groep NV’s challenge to the restructuring terms resulting from state aid measures imposed by EU regulators after the 2008 financial crisis.  According to Bloomberg

European Union, Netherlands, Insolvency & Restructuring, Litigation, Trade & Customs, Kelley Drye & Warren LLP, State aid, European Commission, General Court (EU), ING Group