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Luiza-Cristina GAVRILESCU: Systems for determining the jurisdiction to open international insolvency proceedings

Abstract: The international regulations on cross border insolvency developed certain rules for determining the competent court to initiate and coordinate the insolvency proceedings that take place in several states. The elaborated solutions are essentially expressed by two pair of antithetical phrases: unity-plurality, universality-territoriality. From practical considerations, international regulations do not seek to establish a single bankruptcy procedure, excluding competence of national laws. Jurisdiction to open main proceedings belongs to the state in which the debtor's center of main interests is situated. In addition to opening the main proceeding, it is allowed the opening of secondary proceedings in the territory of states where there is a secondary establishment of the debtor.

Key-words: universality, territoriality, main proceeding, secondary proceedings, the center of main interests


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