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3 International Jurisdiction

Reinhard Bork

From: European Cross-Border Insolvency Law (2nd Edition)

Reinhard Bork, Renato Mangano

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 16 April 2024

Bank resolution and insolvency

This chapter tackles the European Insolvency Regulation (EIR) covering Member States’ jurisdiction on opening main insolvency proceedings. The decisiveness of the Centre of Main Interests (COMI) play a vital role within the system of the EIR and the matter of Member States opening main insolvency proceedings across Europe. COMI is referred to be the place where the debtor conducts the administration of its interests regularly. Additionally, COMI is a place that is ascertainable by third parties. The EIR contains a specific regulation wherein it concerns jurisdiction for related actions, which is tested through the Gourdain formula as per Article Six of the EIR.

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