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Part III The Impact of Freedom of Establishment on Private International Law for Insolvency, 7 The COMI and Forum Shopping

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, 2022. All Rights Reserved.date: 03 July 2022

Subject(s):
Transfer of the centre of management — Transfer of the registered office — Cross-border mergers — Transfer by means of universal succession — Letterbox companies and the doctrine of abuse — Regulatory competition for insolvency
7.01 One of the objectives of the Insolvency Regulation is to avoid incentives for debtors to transfer assets or judicial proceedings from one Member State to another in order to obtain a more favourable judgment. In these terms, recital 4 clearly speaks of forum shopping as a threat to the internal market. The question to be examined here is whether the transfer of the COMI from one Member State to another in order to benefit from the latter’s insolvency laws is permissible under the Regulation. 7.02 The intricacies of forum shopping are discussed at great length...
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