Hogan Lovells Brexit

Brexit, what do EU think?

March 6, 2019

With just weeks to go until Brexit, a deal remains elusive. Despite moves in the UK Parliament to avoid a no-deal Brexit, that remains the default outcome unless a deal or an extension is agreed with the EU and approved by Parliament.

The UK Government has published a report on no-deal preparedness, which highlights serious concerns about lack of preparation by businesses. It is more critical than ever for businesses to be doing what they can to mitigate the impact of a no-deal exit, and many clients are now stepping up planning and execution of these measures. The report also acknowledges that the Government's own preparations are behind schedule, with a substantial proportion of critical measures not yet completed.  

 Against that background, our podcast covers what preparations the EU27 Governments are making for a no-deal scenario and how industry is reacting.

 We also highlighted the key practical points you need to know about Brexit and contractual termination and force majeure provisions following the High Court's judgment in the closely watched case of Canary Wharf (BP4) T1 Limited and others v European Medicines Agency, which found that the European Medicines Agency remains bound by the terms of its lease of its London offices, notwithstanding Brexit.