Center of Main Interest (COMI) Principle in the New EU Regulation on Insolvency Proceedings

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F16%3A86099241" target="_blank" >RIV/61989100:27510/16:86099241 - isvavai.cz</a>

Result on the web

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DOI - Digital Object Identifier

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Result language

angličtina

Original language name

Center of Main Interest (COMI) Principle in the New EU Regulation on Insolvency Proceedings

Original language description

Definition according to which the COMI shall be the place where the debtor conducts the administration of its interests on a regular basis and which is ascertainable by third parties is moved from the recitals to the main body of the Regulation (EU) 2015/848 (the Regulation). Under the Regulation the place of the registered office is still presumed to be the debtor's COMI, but now such presumption shall only apply if the registered office has not been moved to another Member State within a 3-months period prior to the request for the opening of insolvency proceedings. Furthermore, the new law adds a recital that clarifies the circumstances in which the presumption that the COMI of a legal entity is located at the place of its registered office can be rebutted. Special provision applies for natural persons. In the case of an individual exercising an independent business or professional activity, the center of main interest shall be that individual's principal place of business; in the case of any other individual the centre of main interests shall be the place of the individual's habitual residence. The habitual residence became in course of the past decade the most important connecting element determining the status of natural persons in terms of the EU law (not only in insolvency proceedings).

Czech name

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Czech description

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Type

D - Article in proceedings

CEP classification

AG - Legal sciences

OECD FORD branch

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Project

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Continuities

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year

2016

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection

Proceedings of the 3rd International Conference on European Integration 2016 : ICEI 2016 : [Part 1-2] : May 19-20, 2016, Ostrava, Czech Republic

ISBN

978-80-248-3911-0

ISSN

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e-ISSN

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Number of pages

13

Pages from-to

80-92

Publisher name

VŠB - Technická univerzita Ostrava

Place of publication

Ostrava

Event location

Ostrava

Event date

May 19, 2016

Type of event by nationality

EUR - Evropská akce

UT code for WoS article

000387986300008