Brexit: implications for rail rolling stock procurement, leasing and financing
Graeme McLellan writes for Butterworths Journal of International Banking and Financial Law.
Brexit will happen on Friday 29 March 2019 – one year from now – unless the
Article 50 negotiations are extended. Even if a transition period is negotiated, the
EC has announced that this should not continue beyond 31 December 2020. During
the period since the referendum on 23 June 2016, much has been written about the
progress of negotiations between the UK and the EU (or, more particularly, the lack of
such progress) towards an agreement for the post-Brexit position and any transitional
arrangements. Negotiations are about to begin in earnest, but already issues have
emerged which need to be considered in the context of rail rolling stock, leasing and
its financing.