Secondary proceedings

Bob Wessels and Defne Taşman

Chapter 6 in The European Insolvency Regulation, 2026, pp 43-49 from Edward Elgar Publishing

Abstract: The EIR 2015 preserves the possibility of territorially limited proceedings in other Member States than that of the COMI, allowing for secondary proceedings where the debtor has an establishment, if main proceedings have already been opened. The opening of secondary proceedings leads to the creation of a separate insolvency estate within that territory, with effects being limited to the assets located in that State. The secondary proceedings are auxiliary to the main proceedings, not competing with them. The EIR 2015 and CJEU case law clarify the distinction between the COMI and the establishment. The applicable law to secondary proceedings is the lex concursus secundarii of the opening Member State. Territorial proceedings are allowed where main proceedings cannot yet be opened in the Member State of the debtor's COMI. They are aimed at preserving local assets and creditor interests until main proceedings are opened, after which any ongoing territorial proceedings automatically convert into secondary proceedings.

Keywords: Establishment; COMI; Main Proceedings; Secondary Proceedings; Territorial Proceedings; Lex Concursus Secundarii; CJEU (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035396436
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