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.

2

The Court may—

a

apply any other relevant law of the part of the United Kingdom in which the matter is being determined (including the Cross-Border Insolvency Regulations 20068 or the Cross-Border Insolvency Regulations (Northern Ireland) 20079);

b

make any other order that it thinks fit.