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Part III The Impact of Freedom of Establishment on Private International Law for Insolvency, 6 The Scheme of Insolvency Proceedings in the European Union

From: Freedom of Establishment and Private International Law for Corporations

Paschalis Paschalidis

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 14 July 2024

Insolvency proceedings in the EU — Regulatory competition for insolvency — Letterbox companies and the doctrine of abuse — Cross-border mergers — Burden of proof — Insolvency — Recognition and enforcement of foreign judgments
6.01 The real seat theory is not only present in the sphere of corporate affairs. It has also left its traces on European insolvency law. The Council Regulation (EC) 1346/2000 of 29 May 2000 on insolvency proceedings1 (hereinafter the ‘Insolvency Regulation’) has adopted a connecting factor that contains elements of the real seat theory. The centre of main interests (hereafter COMI) is the factor that confers international jurisdiction for insolvency proceedings within the EU.2 6.02 The Insolvency Regulation was adopted in order to promote the ‘proper functioning...
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