You are here:
21 January 2021 / news

Brexit impact on financial agreements and judicial cooperation in commercial matters

In this Q&A we first outline the impact of Brexit on (i) the choice of English law and (ii) the submission to the jurisdiction of the English courts in existing and future contracts between professional parties. In addition, we address the impact of Brexit on (iii) the recognition and enforcement of English courts’ judgements in Belgium, as well as (iv) arbitration clauses.


Over the years London has established itself as the bastion of European finance setting the standards for financial contracts often governed by the laws of England and subjected to the jurisdiction of the courts of England. As a consequence of the withdrawal of the UK from the EU, known as Brexit, which is effective as of 1 January 2021, the UK is no more an EU Member State but a third country. While everything hinted that there would be a hard Brexit, the EU and the UK unexpectedly reached an agreement on 24 December 2020, just a week before the end of the transition period. From now on, the “Trade and Cooperation Agreement” (the TCA) is the Treaty that will govern the relationship between the EU and the UK. Unfortunately, the TCA remains silent on judicial cooperation in civil and commercial matters.

Choice of law clause
Submission to jurisdiction clause
Recognition and enforcement of English courts’ judgements in Belgium
Arbitration clauses in financial contracts

Any other question?

Should you have any further questions relating to this Q&A, do not hesitate to reach out to our team members.


Challenging and Enforcing Arbitration Awards 2021

The Loyens & Loeff Litigation & Arbitration Team is happy to share the latest contribution of Hakim Boularbah, Olivier van der Haegen and Anaïs Mallien to the... read more

Future prospects for SPACs in Belgium?

Created almost thirty years ago, Special Purpose Acquisition Companies (better known under the acronym ‘SPACs’) have experienced a resurgence in popularity since... read more
industrial technology

Loyens & Loeff advised Connect Group on the acquisition of IKOR Group

European based EMS company Connect Group has acquired IKOR Group, a group based in Spain, Mexico and China that designs and manufactures electronic circuits... read more
Stay informed

Don't miss out. Stay up to date about our latest news and events.

Stay informed