WHOA, Brexit! Which future for London as Europe’s (largest) insolvency forum?

London has, for a long time, been the preferred place for European companies to restructure their debt. However, the U.K.’s withdrawal from the European Union means that the long-established automatic recognition of insolvency proceedings across the block is no longer available. Similar problems now apply to the recognition of English restructuring proceedings in other European countries. This paper critically analyses the mechanisms available for the mutual recognition of insolvency and restructuring procedures, as well as workarounds to the current system. It assesses whether and to what extent London is likely to remain a centre for European insolvency and restructuring procedures in the wake of Brexit.