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Brexit and dispute resolution clauses: the options for finance parties
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The extended debate about the impact of Brexit on the popularity of English law and English jurisdiction clauses in international commercial contracts intensified as the Brexit transition period came to an end at 11pm on 31 December 2020. The UK-EU’s new trade deal struck on 24 December 2020 did not cover arrangements on civil justice and so from 1 January 2021 amongst other changes in this area the UK is now no longer bound by two core instruments in the field of private international law: the Recast Brussels Regulation and the Lugano Convention.1 These instruments concern the allocation of jurisdiction and the enforcement of judgments in the EU and in relation to the Lugano Convention in Switzerland Iceland and Norway. In a further development on 1 January 2021 the UK formally re-joined another international convention dealing with the allocation of...
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