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As the political negotiations between the UK and EU unfold, Kennedys is here to keep you up to date on the latest Brexit developments and what they mean for you and your business.
The target EU withdrawal date for the UK is presently 23:00 GMT on 31 October 2019. One hot topic for discussion is the consequences of Brexit on international dispute resolution. We focus here upon litigation and arbitration; the two core choices of forum, even where alternative forms of dispute resolution are attempted but have been unsuccessful.
Businesses must carefully consider the possible interruption and consequences of changes to environmental legislation and regulation that Brexit would bring. In the event of the UK leaving the European Union (EU) with a deal, there will be a transition period providing continuity during that time.
As the Conservative Party leadership contest plays out before us, the political mood around the country appears to be worsening. Our politics is becoming more polarised as Brexit reshapes the traditional left/right party lines. It presents unique tests for political incumbents and new challengers alike.
If no deal is struck or a hard Brexit achieved, it can be anticipated that, at least initially, there will be a degree of disruption as the borders try to cope with the new (and likely increased) procedures.
The UK’s impending departure from the European Union will bring change for businesses of every size and sector. Reducing the risk and maximising opportunities of whatever deal Britain gets takes preparation, but current preparation strategies vary widely.
Currently the European Insolvency Regulation regulates European cross-border insolvencies by prescribing the jurisdiction in which to commence insolvency proceedings and for their automatic recognition across other Member States once opened. This system streamlines the administration of insolvent estates throughout Europe and does so by relying upon mutual application by Member States.
A changing risk landscape is creating new challenges for SMEs and those tasked with providing the sector with insurance.
Case review 28/02/2019
The question whether periodical payments by a 'passported' insurer are ‘reasonably secure’ pending the unknown future outcome of Brexit was considered in a recent case. The parties were agreed that the answer was in the affirmative, but the court had to satisfy itself when approving the settlement.
Last week, Theresa May took another Brexit blow when Parliament defeated the Government's 'next steps' motion on Brexit by 303 to 258 votes.