The Center of Main Interest (COMI) in Recent Case-law
The Center of Main Interest (COMI) in Recent Case-law

Author(s): Tomáš Moravec
Subject(s): Law, Constitution, Jurisprudence, Law on Economics, EU-Legislation, Commercial Law, Court case, Comparative Law
Published by: Societatea de Stiinte Juridice si Administrative
Keywords: Centre of Main Interest (COMI); Cross-border insolvency; EU Regulation on insolvency proceedings (EIR); Insolvency;
Summary/Abstract: The paper deals with defining the Center of Main Interest (COMI) in judicial decisions at the European and national levels. The article presumes that the definition of the COMI in EU Regulation on insolvency proceedings (EIR) recast is still insufficient and the judicial body should precise the definition of the COMI. Moreover, the article supposes that the definition of the COMI is not fit for the decentralized economy. Firstly, the paper describes the definition of the COMI in EIR recast. Secondly, the article focuses on the review of case law and the evolution of the concept of COMI in judicial decisions. Finally, the paper will analyse whether the concept of COMI is convenient in the current legal framework and decentralized economy models. At the end, it will be argued that COMI looks like an adequate and rational criterion for common cross-border insolvencies. Lastly, the article also proposes the definition of COMI in the event of a decentralized economy.

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