Prof. M. Haentjens is Professor of Private Law at Institute for Private LawProfile page
Commercial and financial transaction documentation commonly refers to the London courts to adjudicate any dispute. After Brexit, this forum clause may be problematic. The HCCC is a solution of sorts - parties may have to reconsider their choice of court.
“Judge-made law has played its part. To statute-law belongs the future. Let us pray for well-drawn statutes”. Meijers believed this was true for civil law in 1950. For bank insolvency law it is also true today.
In the past seven years, governments across the globe spent trillions to prevent banks from failing and wreaking havoc on our economy. Europe’s answer has been a legislative framework for bank recovery and resolution and a single resolution mechanism.