- 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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