Abstract
The analysis of the opening of insolvency proceedings under European Union law involves the identification of incidental rules applicable to the insolvency proceedings with an element of foreignness when it concerns the Member States. In order to ensure a comprehensive understanding of cross-border insolvency proceedings, it is necessary to analyze the relevant rules in the field of private international law, when the international character of the insolvency legal relationship is reflected in relation to another third country of the European Union.
Highlights
IntroductionThe rules of procedure in cross-border insolvency proceedings govern issues arising from conflicts of jurisdiction which may arise in this matter, namely the determination of jurisdiction, the establishment of the law applicable to insolvency proceedings and the legal effects to be recognized in a State other than that in which a judgment was given
European Union law involves the identification of incidental rules applicable to the insolvency proceedings with an element of foreignness when it concerns the Member States
In order to ensure a comprehensive understanding of cross-border insolvency proceedings, it is necessary to analyze the relevant rules in the field of private international law, when the international character of the insolvency legal relationship is reflected in relation to another third country of the European Union
Summary
The rules of procedure in cross-border insolvency proceedings govern issues arising from conflicts of jurisdiction which may arise in this matter, namely the determination of jurisdiction, the establishment of the law applicable to insolvency proceedings and the legal effects to be recognized in a State other than that in which a judgment was given. The law applicable to insolvency proceedings (lex concursus) is the law of the State on whose territory the main proceedings were instituted, but the opening of the main proceedings may coexist with a secondary procedure, in which the law of the State on whose territory the secondary proceedings were opened would apply. Both variants presuppose certain situations arising in the procedure may be regulated by a foreign law. Before knowing which law is applicable, it is necessary to determine the competent court to resolve the case
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