Podcast Location:
Download it here [file size: 36.5 MB]
Categories:
European Law
Insolvency & Restructuring
CPD Points:
Up to 1 point. details »

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Regulated by the Solicitors Regulation Authority:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
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Regulated by the Bar Standards Board:
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Regulated by ILEX:
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Cost:
  • FREE
Length:
30 minutes of audio
(+ optional 5 minute online quiz)
Plays on Computer:
Yes Downloadable as MP3:    Yes
Contributor(s):
Course Aims:

This podcast aims to explore the concept of COMI and its importance to the operation of the EU’s cross border insolvency regulations. The second half of the podcast then goes on to explore how the regulations have been applied by national courts – specifically the protection of secured creditors - and the role of the ECJ in seeking to harmonise the regulation’s application.

Outcomes:
After completing the course you will:
  • Know the starting point for where a multi-national company must file for insolvency;
  • Understand the factors that influence a choice of jurisdiction in which to begin insolvency proceedings;
  • Understand the importance of the business’ centre of main interests to the EU regime;
  • Know how the centre of main interest is to be ascertained;
  • Understand the difference and interaction between primary and secondary insolvency proceedings;
  • Know how the cross border rights of secured creditors over assets located outside the COMI jurisdiction are recognised and protected;
  • Be aware of a number of court decisions on the implementation of the regulations;
  • Know to what extent the regulations have been successful and where they have failed.
Level:
Complex Difficulty: 4 of 5
Classification:
Case Update
Legal Principles
Sources and References:
  • EC Council Insolvency Proceedings Regulation (1346/2000);
  • Susanne Staubitz-Schreiber [2006] ECR I-701(Case C-1/04);
  • Shierson v Vlieland-Boddy [2005] EWCA Civ 974;
  • Eurofood IFSC (Area of Freedom, Security and Justice) [2006] EUECJ (C-341/04);
  • Hans Brochier Ltd v Exner Case No: 5618/06. [2006] EWHC 2594 (Ch).
Tags:

This podcast with Bingham McCutchen partner James Roome examines the legal concept of ‘centre of main interest’ or COMI which forms the cornerstone of the EU’s coordinated insolvency proceedings regime for companies within the Union.

Podcast added: 22/07/2011

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