Tag Archives: COMI

English Court Considers How Much Connection is Sufficient?

The English High Court has again considered whether by itself the choice of English law and court jurisdiction in legal documentation establishes a “sufficient connection” with England to enable a foreign company to avail itself of an English scheme of arrangement. Background It has become increasingly popular for foreign companies to utilise an English scheme … Continue Reading

New Focus on Cross-Border Restructuring of Groups for the Recast EC Regulation on Insolvency Proceedings

Background As things currently stand The aim of the EC Regulation on Insolvency Proceedings (1346/2000) (Regulation) is to improve the efficiency of insolvency proceedings with cross border aspects. It provides, within the European Union (EU), rules for determining: the proper jurisdiction for a debtor’s insolvency proceedings; the applicable law to be used in those proceedings; … Continue Reading

The COMIngs and goings of COMI

In the latest decision on COMI (Northsea Base Investment Limited & ors [2015] EWHC 121 (Ch)), the English Court had to determine the centre of main interest for a  group of companies registered in Cyprus, but where the operations of the companies were managed by a shipping agent in London.  This case (1) serves as … Continue Reading