Brexit day extension until 12 April 2019 as exit deal defeated again

Following the UK Government’s defeat on the Withdrawal Agreement today, the time at which the UK is due to leave the EU is now confirmed as having moved to 11pm GMT on Friday 12 April 2019.

The change is reflected in the Statutory Instrument that has been passed by the UK Parliament earlier this week to amend the day of exit in the European Union (Withdrawal) Act 2018 (if the Government had won today’s vote the exit day would have moved to 22 May 2019).

As stated in the European Council Decision of 22 March 2019 on the Article 50 extension, the UK now needs to “indicate a way forward” to the European Council before 12 April 2019. The UK may choose to proceed with a “no deal” on that exit day or propose an alternative plan and request a further extension which will require it to participate in the next European Parliament elections on 23-26 May 2019. In order for there to be any extension beyond 12 April 2019 there has to be unanimity between the UK and all other members of the EU.

In response to the Government’s defeat today Donald Tusk, President of the European Council, has called a European Council for Wednesday 10 April.

The House of Commons is due to hold indicative votes on possible ways forward for the second time on Monday 1 April, having voted against each option put before it the first time on the 27 March.

Brexit breakfast briefing with Daniel Finkelstein and Ameet Gill and new podcast released

On the morning of 28 March 2019, the day before Brexit was meant to happen, we hosted a breakfast briefing with Mark Shillito, Partner and Global Head of Intellectual Property at Herbert Smith Freehills, Daniel Finkelstein OBE, Associate Editor, Columnist and Leader Writer at the The Times and Ameet Gill OBE, Partner at Hanbury Strategy. Continue reading

New decision tree on enforcement of English judgments in the EU27 post-Brexit

The post below was first published on our Litigation blog

Amidst the ongoing uncertainties in relation to both the nature and timing of Brexit, we have published a new decision tree on enforcement of English judgments in the EU27 post-Brexit. It is intended to act as a quick reference guide to help determine which rules will apply to enforcement of a judgment post-Brexit – whether the current rules in the recast Brussels Regulation, or the 2005 Hague Convention on Choice of Court Agreements, or the local rules in each EU27 country. Please click on the image below to access the document. Continue reading

Brexit corporate update: No-deal preparedness

As a no-deal Brexit (i.e. the UK leaving the European Union on 29 March 2019 without a withdrawal agreement in place) remains the legal default unless the European Union (Withdrawal) Act 2018 is amended ahead of that deadline, below are some developments that will be of interest to corporate practitioners in the event of a no-deal Brexit.  In each case, the changes below will only come into effect at 11pm on 29 March 2019 if no deal is agreed and Brexit is not delayed (although current expectation is for a delay to either 12 April or 22 May 2019). Continue reading

“No deal” more off the table again (for now)

Last night (21 March 2019), the European Council agreed to offer the UK an extension until 22 May 2019, if the UK Parliament passes the “Meaningful Vote 3.0” in relation to the Withdrawal Agreement next week. If the vote fails once again, the UK will have until 12 April 2019 to approve the deal, otherwise it would need to choose between a “no deal” exit or longer extension with participation in the European Parliament elections. Continue reading

“No deal” back on the table

The Prime Minister has now officially requested an extension of the Brexit deadline to 30 June 2019 to enable her to bring the negotiated withdrawal deal (the legally binding Withdrawal Agreement and the Political Declaration on future relations) back to Parliament for a third ‘Meaningful Vote’.  She has also stated that, as Prime Minister, she could not support any extension beyond this point in any circumstances.

The President of the European Council, Donald Tusk, responded that a short extension would be possible, but would be conditional on a positive vote on the withdrawal deal. Draft European Council conclusions state: “The European Council commits to agreeing to an extension until 22 May 2019, provided the Withdrawal Agreement is approved by the House of Commons next week. Given that The UK does not intend to hold elections to the EP, no extension is possible beyond that date”. Continue reading

WHAT NEEDS TO HAPPEN FOR THE UK TO EXIT THE EU?

The Prime Minister has now officially requested an extension of the Brexit deadline to 30 June 2019 to enable her to bring the negotiated withdrawal deal (the legally binding Withdrawal Agreement and the Political Declaration on future relations) back to Parliament for a third ‘Meaningful Vote’.  The President of the European Council, Donald Tusk, responded that a short extension would be possible, but would be conditional on a positive vote on the withdrawal deal.

Assuming that an extension to 30 June 2019 (or whatever alternative date the EU agrees to) is agreed, what will need to happen for the UK to actually exit the EU? Continue reading

Brexit Asset Management Update

In this blog post we summarise the latest Brexit developments related to asset management.

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