Vol 19 (2022) - Issue 1

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One Year On: Has Brexit Been as ‘Hard’ as Imagined

Synopsis
We assess the practical impact of Brexit on the restructuring & insolvency market to date, reflecting on pre-Brexit uncertainties to the first year of postBrexit reality, including:
a) UK attempts to re-accede to the Lugano Convention;
b) the English court’s controversial decision in gategroup;
c) English courts’ pragmatic approach to international effectiveness when considering schemes of arrangement and restructuring plans;
d) post-Brexit cases under the Cross-Border Insolvency Regulations 2006;
e) the use of ‘subsequent’ proceedings in OHL’s restructuring; and
f) a practical issue regarding English companies with their centre of main interests in Germany.

We conclude with predictions of future developments in this field