Temporal application and savings5
1
Paragraph (2) applies where in any particular case Council Regulation (EC) 1346/2000 or the EU Insolvency Regulation applies in the United Kingdom by virtue of regulation 4 and the court considers that the effect is or would be different to what would be the effect had a member State treated the United Kingdom as a member State under the relevant Regulation, and either—
a
the court considers that one or more of the following would be materially prejudiced—
i
the interests of a creditor (whether alone or in common with some or all other creditors),
ii
the interests of the debtor,
iii
where the debtor is a body corporate, the interests of a member (whether alone or in common with some or all other members) of the debtor; or
b
the court considers it would be manifestly contrary to public policy to apply the relevant Regulation.