Companies in the EU are increasingly establishing business activities in EU countries other than where their core activities are located. Recognising the chaos and immense cost that can ensue when these companies become insolvent, the European Commission has called for the modernisation of the Union’s disparate insolvency framework. This panel will examine the EU’s existing insolvency and restructuring procedures as well as the many challenges facing the European Commission’s reform initiatives. These include: whether the Insolvency Regulation will cease to apply to the UK; whether the UNCITRAL Model Law on Cross-Border Insolvency will be sufficient for the UK to deal with complex cross border European cases; and the effects of Brexit on UK schemes of arrangements.