The process of Brexit will take many years, and the implications for our clients’ businesses will unfold over time. Our MoFo Brexit Task Force is coordinating Brexit-related legal analysis across all of our offices, and working with clients on key concerns and issues, now and in the coming weeks and months. We will also continue to provide MoFo Brexit Briefings on a range of key issues. We are here to support you in any and every way that we can.

Following the referendum…and after Brexit -

The UK’s majority vote by referendum to leave the European Union will have no immediate effect on the law or practice of restructuring and insolvency in Europe for credit institutions. For the time being, the UK remains a member of the EU, and all existing EUderived laws continue to apply in the UK. However, if the UK ceases to be a member of the EEA (or in the absence of any alternative arrangements being agreed between the UK government and the remaining EU Member States), insofar as a UK based financial institution undergoing some form of restructuring or formal winding up requires recognition in other EU Member States (e.g. because it has branches there), the UK’s eventual exit from the EU will pose the following challenges.