Live Breaking News & Updates on Recognition Of Uk Insolvency Proceedings In Malta Post Brexit

Prior to 1
st January, 2021, the cross-border
recognition and enforcement of insolvency proceedings and
judgements between the European Union
(
EU ) and the United Kingdom
(
UK ) was largely consolidated within
the framework of the European Insolvency (Recast) Regulation (the

EIR ) which generally attributed
automatic recognition to such proceedings and/or judgements.
Following the end of the Brexit transitional period on the
31
st December 2020, the EIR no longer applies to
the UK. Consequently, insolvency proceedings opened in the UK after
31
st December 2020 will not benefit from automatic
recognition.
The EIR applies a set of common rules in determining the
jurisdiction to open insolvency proceedings. Article 19 of the EIR ....

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