REASSESSING COMI IN EU INSOLVENCY LAW: LEGAL CERTAINTY OR REGULATORY LOOPHOLE?
REASSESSING COMI IN EU INSOLVENCY LAW: LEGAL CERTAINTY OR REGULATORY LOOPHOLE?

Summary/Abstract: This paper provides a comprehensive analysis of the “centre of main interests” (COMI) within the framework of cross-border insolvency under European Union law. COMI serves as the central jurisdictional criterion for determining the competent court to open main insolvency proceedings and plays a pivotal role in ensuring legal certainty, creditor protection, and the effective coordination of transnational cases. The paper explores the origin and evolution of the concept, doctrinal interpretations, and relevant jurisprudence of the Court of Justice of the European Union (CJEU). Special emphasis is placed on the challenges arising from the artificial relocation of COMI by debtors seeking a more favourable legal environment—commonly referred to as forum shopping. The analysis highlights both the risks and legal constraints associated with such relocations and presents proposals for legislative reform aimed at enhancing transparency and consistency.

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