However Brexit evolves – something that remains impossible to predict – cross-border restructuring and insolvency in and between the UK and European countries will continue to develop. The question is, what will that development look like?
The EU Harmonisation Directive, which came into force on 16 July 2019, requires Member State implementation within two years and is assumed in this report not to have any direct effect in the UK as a result of Brexit. A significant part of the Directive’s focus is pre-insolvency procedures. As well as outlining the Directive (sufficiently explored elsewhere to not need repeating in this report) Jennifer Marshall and Nico Tollenaar debated pre-insolvency procedures by comparing the English Scheme of Arrangement and the new Dutch Scheme.