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Brexit – Consequences for Creditors’ Enforcement Options

26 January 2021

The UK left the European Union (EU) on 31 January 2020, but it is only now, after the transition period (which ended on 31 December 2020) that creditors start grappling with the effect of Brexit on distressed situations. What are the consequences of Brexit on enforcement options for creditors? What strategies may other stakeholders pursue in light of the new interaction of the UK and European restructuring and insolvency regimes? As the EU legislation relevant to restructuring and insolvency pre-Brexit, being the EU Recast Insolvency Regulation (EIR) and the Brussels I (Recast) Regulation, have ceased to apply to the UK from the end of the transition period (except in limited circumstances), the landscape looks very different from 1 January 2021.

In this report we have sought to summarise the key changes for creditors post-Brexit from a restructuring and insolvency perspective, focusing on their options in enforcement situations.

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Brexit – Consequences for Creditors’ Enforcement Options
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Authors

Portrait ofEmma Riddle
Emma Riddle
Partner
London
Portrait ofJulian Turner
Julian Turner
Consultant
London
Portrait ofTimea Scholey
Timea Scholey
Partner
London
Portrait ofMartin Brown
Martin Brown
Partner
London
Portrait ofGlen Flannery
Glen Flannery
Partner
London
Portrait ofSian Aitken
Sian Aitken
Partner
Edinburgh
Portrait ofKelly Rothwell
Kelly Rothwell
Of Counsel
London
Portrait ofPeter Wiltshire
Peter Wiltshire
Partner
London
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