After Brexit, creditors may be impacted when assets of insolvent companies are sought for recovery in Europe.
This was the view set out today by R3, the trade body for insolvency professionals, in a statement covering how the EU referendum result may affect the corporate insolvency process.
Andrew Tate, president of R3, said: Leaving the EU will have a major impact on the way corporate insolvency works in the UK.
The UKs insolvency regime does not exist in a vacuum. It is entwined with rules on employment, tax, property, and more; and all of these are linked with European rules.
There will naturally be uncertainty for UK businesses and the decision to leave could create immediate problems for some. Business…
Read the full article at: http://www.insolvencynews.com/article/18349/industry/brexit-how-creditors-may-be-affected-in-corporate-insolvencies