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.

For lawyers dealing regularly with commercial secured lending, the requirement to register company fixed and floating charges has long been fraught with tension. It is a commercial necessity for charges over a company's assets to be registered in a publicly available register. Prospective creditors need to be able to establish how far the company's assets have been secured and are available to meet its commitments. Failure to register will result in the charge being invalid against any liquidator, administrator or creditor of the company if the company becomes insolvent.