Comparison of processes

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Choice of European venue

The location of a debtor company's centre of main interest (COMI) is often relevant following the implementation of (i) the UNCITRAL Model law in England under the Cross Border Insolvency Regulations 2006, SI 2006/1030 (see Practice Note: How courts determine COMI under the UNCITRAL Model Law (and when an Establishment is enough)) and in other countries and (ii) the Regulation (EU) 2015/848 (OJ L141 5.6.2015 p 19), Recast Regulation on Insolvency (EU Recast Regulation on Insolvency) which replaced the EC Regulation on Insolvency, Regulation (EC) 1346/2000 (EC Regulation on Insolvency) and still applies between the remaining Member States despite Brexit (see Practice Notes: Recast Regulation on Insolvency (Member State to Member State)—establishing the centre of main interests (COMI) for corporates for the EU position and Centre of main interests (COMI) for corporates for the position in the UK).

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