Comparison of processes

Choice of European venue

Following the implementation of 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, and implementation of the UNCITRAL Model law in England under the Cross Border Insolvency Regulations 2006, SI 2006/1030 (see Practice Note: UNCITRAL Model Laws—overview) and in other countries, there may be some debate as to where a debtor company's centre of main interest (COMI) is. Forum shopping is becoming more common in cases where debtor companies have the luxury of time to assess the various jurisdictions available for a restructuring, compare their benefits and disadvantages and in some cases move COMI to

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