Davina Garrod Quoted in Media on UK High Court’s Brexit Ruling
Akin Gump international trade partner Davina Garrod has been quoted in the media following a ruling this week by the United Kingdom’s High Court that Britain’s exit from the European Union will require parliamentary approval. As Law360 reports, it’s a loss for the government that opens a wider window for lobbying for European Union single-market access.
Garrod said she believes the government should move to assure an already unsettled financial sector it has its interests at heart, even in the face of thousands of job losses. “The government will be working hard to maximize the chances of a parliamentary Brexit vote over the next few months,” she noted. “It is imperative for financial markets and industry alike that the U.K.’s fate is known as soon as possible.”
Speaking to Hedgeweek, Garrod, who focuses on trade and financial regulatory matters, observed that the fundamental principle of parliamentary sovereignty was upheld by the ruling, with a successful appeal looking unlikely. The European Union, she said, “has afforded numerous benefits for the UK,” particularly in the financial and legal services communities, and companies in pharma, technology and other innovative industries could potentially lose materially.
Garrod added that the government will be working hard to maximize the chances of a parliamentary Brexit vote over the next few months, but it is imperative for financial markets and industry alike that the UK’s fate is known as soon as possible.