To embed, copy and paste the code into your website or blog: Although the Trade and Cooperation Agreement (TCA) arrived in time to prevent a wholesale “no deal Brexit,” issues of cross-border cooperation and recognition in relation to insolvency and restructuring proceedings were not included in the agreement. As a result, The Insolvency (Amendment) (EU Exit) Regulations 2019, which were designed to cater to a “no deal Brexit,” took effect at 11 p.m. on 31 December 2020 and repealed the vast majority of EU law relevant to this sphere. Takeaways There is no longer a single, uniform regime for the coordination of restructurings between the UK and EU member states.