From the UK side of the Atlantic the year 2002/2003 has indeed been a momentous year for cross border restructuring. The main cause of this momentousness? Council Regulation (EC) No. 1346/2000. Kirkland partners James H.M. Sprayregen and Lyndon E. Norley and associate Richard East comment on the new regulation and its implications. This article is in pdf format, which requires Acrobat Reader.