Recognition of UK insolvency proceedings post-Brexit: The impact of a ‘No Deal’ scenario

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dc.contributor.authorUmfreville, Chris
dc.contributor.authorOmar, Paul
dc.contributor.authorLücke, Heike
dc.contributor.authorLynch Fannon, Irene
dc.contributor.authorVeder, Michael
dc.contributor.authorCarballo Piñeiro, Laura
dc.date.accessioned2019-09-09T11:58:24Z
dc.date.available2019-09-09T11:58:24Z
dc.date.issued2018-10-10
dc.description.abstractAbstract This paper examines the impact of a ‘no deal’ or ‘hard’ Brexit on the recognition of insolvency proceedings commenced in the UK by the remaining Member States of the European Union (EU) post-Brexit. The paper considers the framework currently implemented by the Recast European Insolvency Regulation and the possible approaches when it will cease to apply to proceedings commenced post-Brexit. The paper identifies that there will be no overarching framework in the event that ‘no deal’ is reached between the UK and the EU for post-Brexit arrangements, resulting in reliance on individual Member States' domestic laws to determine recognition of insolvency proceedings commenced in the UK. The paper sets out the contrasting approaches of five of the UK's key trading partners in the EU: France, Germany, Ireland, the Netherlands and Spain. The paper concludes that UK insolvency proceedings will not be recognised in a consistent manner in these Member States, which will be detrimental to stakeholders in, and ultimately the economies of, the UK and these Member States. In doing so, the paper underlines the importance of an agreement being reached between the UK and the EU on the recognition of cross-border insolvency proceedings for the benefit of all parties.en
dc.description.statusPeer revieweden
dc.description.versionPublished Versionen
dc.format.mimetypeapplication/pdfen
dc.identifier.citationUmfreville, C., Omar, P., Lücke, H., Fannon, I.L., Veder, M. and Carballo Pineiro, L., 2018. Recognition of UK Insolvency Proceedings Post‐Brexit: The Impact of a ‘No Deal’Scenario. International Insolvency Review, 27(3), (22pp). DOI:10.1002/iir.1325en
dc.identifier.doi10.1002/iir.1325en
dc.identifier.eissn1099-1107
dc.identifier.endpage444en
dc.identifier.issn1180-0518
dc.identifier.issued3en
dc.identifier.journaltitleInternational Insolvency Reviewen
dc.identifier.startpage422en
dc.identifier.urihttps://hdl.handle.net/10468/8485
dc.identifier.volume27en
dc.language.isoenen
dc.publisherBlackwell Publishing Ltden
dc.relation.urihttps://onlinelibrary.wiley.com/doi/abs/10.1002/iir.1325
dc.rights© 2018 The Authors. International Insolvency Review published by INSOL International and John Wiley & Sons Ltd.en
dc.rights.urihttps://creativecommons.org/licenses/by-nc-nd/4.0/en
dc.subjectBrexiten
dc.subjectInsolvencyen
dc.subjectStakeholdersen
dc.titleRecognition of UK insolvency proceedings post-Brexit: The impact of a ‘No Deal’ scenarioen
dc.typeArticle (peer-reviewed)en
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