Jurisdiction(s):
United Kingdom

Key definition

Brexit definition

What does Brexit mean? Brexit is the practical shorthand in legal drafting and advice for the United Kingdom’s withdrawal from the European Union and the legal, regulatory and trading changes flowing from it. It covers the UK’s cessation of EU membership on exit day (31 January 2020) and the cessation of the EEA Agreement’s application, the end of the implementation/transition period on IP completion day (31 December 2020), and the commencement, expiry or variation of post‑withdrawal trading and regulatory arrangements, including the UK‑EU Trade and Cooperation Agreement, the Windsor Framework (amending the Northern Ireland Protocol), and UK agreements with third countries...

Effects of Brexit SI 2019/146 on CBIR 2006: COMI under the retained EU Insolvency Regulation; removal of Member State liquidator notice, service and participation requirements

Published by a LexisNexis Restructuring & Insolvency expert

Practice notes

What is the key Brexit SI impacting CBIR 2006?

This material is archived and no longer maintained. The effect of the principal Brexit SI for R&I-the Insolvency (Amendment) (EU Exit) Regulations 2019, SI 2019/146-is widely acknowledged with respect to the Recast Regulation on Insolvency, Regulation (EU) 2015/848 (OJ L141 5.6.2015 p 19) (EU Recast Regulation on Insolvency), see Practice Note: Brexit-impact on Recast Regulation on Insolvency. Less commonly noted is the effect that the Brexit SI also has on the Cross-Border Insolvency Regulations 2006, SI 2006/1030, which give effect to the UNCITRAL Model Law on Insolvency in UK law (see Practice Note: When does UNCITRAL (implemented by the Cross-Border Insolvency Regulations) apply and what are the effects?).

What are the main changes to CBIR 2006?

As shown by the mark-up noted below, there are, as anticipated, several amendments that now cite the Retained Recast Regulation on Insolvency, Retained Regulation (EU) 2015/848, as it forms part of domestic law after IP completion day (31 December 2020). Other amendments include:

SI 2006/1030, Schedule 1 paragraph 3 (International obligations of GB): EU Recast Regulation on Insolvency prevails over CBIR 2006 in the manner described above and noted in the practice notes provided...

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Web page updated on 27/05/2026

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