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Recognition of UK Insolvency Proceedings Post-Brexit: The Impact of a 'No Deal' Scenario

机译:英国脱欧后对英国破产程序的认可:“无交易”方案的影响

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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. Copyright (c) 2018 The Authors International Insolvency Review published by INSOL International and John Wiley & Sons Ltd.
机译:本文探讨了“无协议”或“硬性”英国脱欧对英国脱欧后其余欧盟成员国承认在英国启动的破产程序的影响。本文考虑了《重铸的欧洲破产条例》目前实施的框架,以及将不再适用于英国退欧后开始的程序的可能方法。该文件指出,如果英国和欧盟之间就脱欧后的安排没有达成任何协议,那么将不会有一个总体框架,从而导致依赖于各个成员国的国内法来确定承认破产程序的起始时间是英国。本文阐述了英国五个欧盟主要贸易伙伴的对比方法:法国,德国,爱尔兰,荷兰和西班牙。本文的结论是,英国的破产程序不会在这些成员国中得到一致认可,这将损害英国和这些成员国的利益相关者,并最终损害其经济。在此过程中,本文强调了英国和欧盟之间达成一项承认跨境破产程序以使各方受益的协议的重要性。版权所有(c)2018年《作者国际破产评论》,由INSOL International和John Wiley&Sons Ltd发布。

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