ABSTRACT
This chapter discusses the Regulation and the Model Law that covers the key topics concerning cross-border insolvency law, in particular, jurisdiction, recognition and enforcement, cooperation and communication. It starts with its origin and then moves on to explain the reasons of ambiguity of the concept and the problems incurred by application of the overlapping concepts. The chapter explores the development of interpretation under the EU Regulation as well as under the Model Law based on the legal texts and the case law. The Regulation and the Model Law employ the same terminologies, that is center of main interests (COMI) and establishment, both of which can find their origins from the relevant sources in the EU context. COMI is the term relating to determination of the main proceedings, which has been employed both by the Regulation and the Model Law. Public policy is applied in both the Regulation and the Model Law to refuse the recognition of the foreign insolvency proceedings.
