KEEP CALM AND BREXIT!
Jovita Vassallo, Head of Dispute Resolution at Fletcher Day, delivered another successful presentation in March 2017 during an International Business Law Consortium conference in Cyprus. Her subject on this occasion was Brexit.
As Article 50 was about to be triggered, Jovita focused on the positive aspects of Brexit. The group of international lawyers, many of whom were European, found this approach refreshing, and came away feeling more confident about the process than before.
Jovita covered many of the relevant aspects including the single market, customs union, trade restrictions, why a meaningful vote was unworkable, and soft versus hard Brexit (to include a review of the Norwegian and Swiss models).
Her focus was on the effects of Brexit on international trade. Rather than follow the crowd by saying it is all yet to be decided, Jovita put forward some firm views and options as to how the negotiations might progress and the ramifications for the British economy. So far she has been right, but let’s see…
The current stability of international dispute resolution between businesses in the UK and the EU is unlikely to remain and once the deal begins to take shape, disputes are anticipated to rise. Here are some examples of possible areas of conflict:
- Will attempts be made to claim a contract is frustrated by the terms of Brexit?
- Will businesses try other ways to extract themselves from agreements?
- What regime will be put in place for enforcing international judgments?
Most importantly, how will this affect your business?
Take comfort from the fact that England has one of the oldest and most respected legal jurisdictions in the world. We are not going anywhere!
If you would like further information on how the ramifications of Brexit could impact upon national and international disputes faced by your business or you are simply seeking general advice, please contact Jovita Vassallo.
The contents of this article are intended for general information purposes only and shall not be deemed to be, or constitute legal advice. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this article.
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