Non-Main Proceeding (Foreign Insolvency)

Non-Main Proceeding (Foreign Insolvency) - A non-main proceeding in foreign insolvency is an ancillary insolvency case initiated in a jurisdiction other than where the debtor's center of main interests (COMI) is located. This proceeding handles local assets and operations, complementing the main proceeding by addressing regional concerns and facilitating cooperation in cross-border insolvency cases.

Class Information

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Identification

IRI: https://folio.openlegalstandard.org/RuQrjxxvpOmozofPFu0LZ2
Label (rdfs): Non-Main Proceeding (Foreign Insolvency)
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Definition and Examples

Definition: A non-main proceeding in foreign insolvency is an ancillary insolvency case initiated in a jurisdiction other than where the debtor's center of main interests (COMI) is located. This proceeding handles local assets and operations, complementing the main proceeding by addressing regional concerns and facilitating cooperation in cross-border insolvency cases.
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Class Relationships

Sub Class Of: Recognition of Foreign Restructuring Objectives
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Additional Information

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Deprecated: False

Metadata

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