Abstract
After Brexit, the United Kingdom will become a third State to all effects. As far as insolvency is related, this will imply substantial changes regarding the recognition and enforcement of the UK insolvency proceedings. This paper purports to analyze the consequences a Hard-Brexit will have on insolvency-related matters, by describing the effects that should be expected with regard to the recognition in Spain of each of the proceedings that the UK legislation foresees for financially distressed debtors, namely administration, winding-up, voluntary agreements, bankruptcy and schemes of arrangement (which are dealt with separately due to their hybrid nature).
Note
This paper has been carried out within the framework of two research projects: (i) Transnational Protocols. A Cooperative Tool for Managing Cross-Border Insolvency (ToP) co-funded by the European Commission with topic ID JUST-AG-2017/JUST-JCOO-AG 2017; (ii) Finance and restructuring as preinsolvency solutions to business distress (DER2017-84263), funded by the Spanish Department of Scientific and Technical Research, Ministry of Economy and Competitiveness. The author wishes to thank the anonymous peer reviewers for their valuable comments. Any imprecisions or mistakes are the author’s sole responsibility.
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