The center of main interests of the debtor in the insolvency proceedings at the European Union level differences between the EU Regulation no. 1346/29.05.2000 and EU Regulation no. 848/20.5.2015

Beatrice Mihaela Moraru () and Diab Moh'd Diab Hasanin ()
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Beatrice Mihaela Moraru: Lawyer within Brasov’s Bar Association, Romania
Diab Moh'd Diab Hasanin: Faculty of Law, Birzeit University, Palestine

Juridical Tribune - Review of Comparative and International Law, 2017, vol. 7, issue Special, 164-168

Abstract: In this paper we will present the notion of Center of Main Interests (COMI) of a debtor in the insolvency proceedings at the European Union level in the light of EU Regulation No. 1346 / 29.05.2000 and the EU Regulation No. 848 / 20.05.2015 with constant reference to the European jurisprudence. The concept of center of main interests of a debtor has a particular importance in the cross border bankruptcy cases as its location determines the court which is competent to open the insolvency proceedings. Although at the European level adopting the EU Regulation No. 1346 / 29.05.2000 was considered a legislative progress in bankruptcy proceedings, in the end it had relatively few applications as it was unable to cover large factual aspects. The mentioned regulation was offering a rigid and abstract definition and interpretation of the COMI concept which resulted in important legal application divergences that lead in the end to a legislative reform. This legislative reform was concluded with the adoption of EU Regulation No. 848 / 20.5.2015 .

Keywords: center of main interests; insolvency proceedings; EU Regulation no. 1346/29.05.2000; EU Regulation no. 848/20.05.2015; Eurofood; Interedil. (search for similar items in EconPapers)
JEL-codes: K33 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:asr:journl:v:7:y:2017:i:special:p:164-168

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