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"The Noes have it" / Brexit – Action required!

16/01/2019

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Germany

​"The Noes have it" / Brexit – Action required!

Düsseldorf, 16 January 2019: "The Noes have it" - The Brexit Agreement (Withdrawal Agreement) negotiated with the EU was rejected yesterday in the British Parliament (House of Commons). The vote against the government requested by Labour will probably also be rejected, so that new elections will not be held. There are also serious doubts about the option of a renegotiation of the withdrawal conditions. And whether a second referendum will be held is also uncertain. However, by now it is obvious that the so-called "no deal scenario", i.e. a hard Brexit as of 29 March 2019, is more probable than ever and the question of "Brexit - Action recquired?!" has to be answered with a definite "yes". Even if the Brexit would still be postponed with the agreement of all EU member states, entrepreneurs and companies will now have a concrete need for action. At an early stage, Fieldfisher defined the relevant legal issues for a Brexit risk analysis in the goods and services sector from and to the UK (https://www.fieldfisher.com/expertise/brexit-challenges-and-opportunities/brexit-concerns-for-eu-owned-entities). The Brexit risk analysis is mandatory for all organs and should now be implemented by any necessary measures. We are already supporting numerous companies in their extensive preparations for the Brexit. Others have been waiting to see the outcome of the political debate in the UK and must act now.

Fieldfisher is one of the leading European law firms in the area of Brexit consulting. For this purpose, we have combined our experience from various legal areas and work effectively with companies to prioritize and focus their Brexit planning.

 

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