Recast Regulation on Insolvency (Member State to Member State)—table of differences between main and secondary proceedings

The following Restructuring & Insolvency practice note provides comprehensive and up to date legal information covering:

  • Recast Regulation on Insolvency (Member State to Member State)—table of differences between main and secondary proceedings
  • UK status
  • EU Recast Regulation on Insolvency
  • Table comparing main proceedings and secondary proceedings

Recast Regulation on Insolvency (Member State to Member State)—table of differences between main and secondary proceedings

UK status

As of exit day (31 January 2020) the UK is no longer an EU Member State. For a time, under the Withdrawal Agreement, the UK was in an implementation period, during which it continued to be subject to EU law. However, from 1 January 2021, the main operative parts of the Regulation (EU) 2015/848 (OJ L141 / 19), Recast Regulation on Insolvency [EU Recast Regulation on Insolvency] on automatic recognition are no longer applicable to the UK (see Practice Note: Brexit—impact on Recast Regulation on Insolvency). However, other Member States continue to apply the EU Recast Regulation on Insolvency where its requirements are satisfied.

EU Recast Regulation on Insolvency

The EU Recast Regulation on Insolvency which applies between Member States specifies that main, secondary or territorial proceedings may be opened (see Practice Note: Recast Regulation on Insolvency as between Member States—main, secondary and territorial proceedings). The table below compares the differences between the most common types of proceedings: main proceedings and secondary proceedings.

For the full text of the EU Recast Regulation on Insolvency, click here.

Table comparing main proceedings and secondary proceedings

Main proceedingsSecondary proceedings
Opened in the Member State where the debtor has its centre of main interests (COMI). The definition of COMI in Article

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