The Hidden Voyage of a Dying Italian Company, from the Mediterranean Sea to Albion
Federico M. Mucciarelli
University of London, SOAS, Department of Financial and Management Studies; University of Modena and Reggio Emilia - School of Economics
European Company and Financial Law Review Vol. 9, No. 4, 2012
For the first time, the European Court of Justice addresses a case of a cross-border transfer of registered office before the filing for insolvency. The Interedil decision makes clear that the location of a debtor’ s centre of main interests (“COMI”) is to be assessed as of the moment of filing for insolvency. Furthermore, the ECJ addresses the question of the evidence required to overcome the presumption that the COMI coincides with a corporation’s registered office. However, behind these relevant cross-border insolvency issues hides a strange story of corporate mobility from Italy to England, which shows the need for further harmonization throughout the EU in the field of cross-border transfer of register offices.
Keywords: EU Insolvency Regulation, Forum shopping, COMI, transfer of registered office
JEL Classification: K22
Date posted: February 19, 2013