Center of main interest (COMI) and jurisdiction of national courts in insolvency matters (insolvency status)

Purpose – The applicable jurisdiction for insolvency proceedings, as provided by the Regulation (EC) No 1346/2000 on insolvency proceedings, is the court of the Member State where the debtor's center of main interest (COMI) is located (Article 3(1)). The Regulation, however, does not provide a comprehensive definition of the COMI. This paper seeks to explore the meaning and developments behind the meaning of COMI as influenced by judicial reasoning and conflicts across Member States.Design/methodology/approach – The study centres around the emerging jurisprudence and analyses case law across Member States in order to draw conclusions on the meaning of COMI and the emerging concepts. Extensive consideration of statutory interpretation, case reports and judicial comment is present in order to inform and develop conclusions.Findings – In the absence of a definition it appears that the only relevant European guidance emerges from recital 13 and Article 3 (1). With little guidance in the Regulation, it has the...