As part of a continued effort in Europe to reform insolvency legislation, the British government issued a paper in March 2018 as a response to a draft directive published by the European Commission in November 2016. The Response proposed highly significant reforms to the current insolvency legislation which–interestingly, in this era of Brexit–if adopted, would bring the British insolvency policies closer in line with the current policies of the European Union. Learn more about the proposed reform from this recent restructuring alert, which breaks down the new proposed restructuring plan, analyzes a possible implementation timeline and compares the potential legislation to the current policies in place in the European Union.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.