Brexit—the UK’s exit from the European Union—became fully effective at the turn of the year with the expiry of the implementation period on 31 December 2020.

Prior to 1 January 2021, recognition and enforcement of restructuring and insolvency procedures and judgments between the UK and EU member states was subject to common EU regulations which had direct effect and broadly offered automatic recognition. Those common regulations no longer apply to the UK.

Notwithstanding the loss of these regulations, there remains an effective legal framework for recognition of inbound proceedings and judgments from EU member states to the UK, including the … Continue Reading