FOLIO Ontology

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Identification

IRI:
https://folio.openlegalstandard.org/RuQrjxxvpOmozofPFu0LZ2
Label Non-Main Proceeding (Foreign Insolvency)
Preferred Label N/A
Identifier N/A
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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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