Reflections On R3

Anthony Williams, Mark Holligon and Gemma Whale from our Crown Dependencies Insolvency and Restructuring team attended last week’s R3 Annual Conference in Portugal. A few of the key themes from the conference are outlined below. To learn more about our work in this area or to request our Insolvency & Restructuring Capability Statement, please contact a member of the team.

Brexit and Cross Border Insolvencies

It is clear that there will be a need for legislative certainty post Brexit, once the reciprocal recognition of proceedings and determination of member states’ jurisdiction via the EC Regulation on Insolvency Proceedings is lost. The UK Withdrawal Bill currently removes the mechanism of reciprocal recognition and it is yet unclear whether or not UNCITRAL and/or domestic legislation would be relied upon post Brexit, or whether the more legislative certainty via, for example, bilateral treaties, will be available going forwards. Without such treaties in place it