Establishing centre of main interests (COMI) or an establishment under the UNCITRAL Model Law


Published by a ³ÉÈËÓ°Òô Restructuring & Insolvency expert
Practice notes

Establishing centre of main interests (COMI) or an establishment under the UNCITRAL Model Law


Published by a ³ÉÈËÓ°Òô Restructuring & Insolvency expert

Practice notes
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uncitral model law on insolvency guidance on COMI

UNCITRAL has produced a judicial perspective for judges, reviewing various cases across the globe which have considered the UNCITRAL Model Law on Insolvency and offering general guidance on the issues a judge may need to consider (the UNCITRAL Judicial Perspective, paras [1]–[4]). It doesn't purport to instruct judges how to deal with applications under the UNCITRAL Model Law on Insolvency and it recognises that no single approach is possible or desirable—flexibility is important where the economic dynamics of a situation can change suddenly.

The UNCITRAL Judicial Perspective (paras [97]–[98]) confirms that a deliberate decision was taken not to define COMI within the UNCITRAL Model Law on Insolvency itself and confirms that the concept of COMI was taken from the European Convention on Insolvency Proceedings (the Convention) (the forerunner to the EC Regulation on Insolvency, Regulation (EC) 1346/2000 (EC Regulation on Insolvency)) (itself the forerunner to the EU Recast Regulation on Insolvency) for reasons of consistency.

The UNCITRAL Judicial Perspective

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Jurisdiction(s):
United Kingdom
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Key definition:
Centre of Main Interests definition
What does Centre of Main Interests mean?

A term used in (a) the EC Regulation on insolvency 1346/2000 (the EC Regulation on Insolvency)/the recast regulation; and (b) UNCITRAL Model Law regarding main proceedings

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