ABSTRACT
Main insolvency proceedings are opened at the location of the "the centre of the debtor's main interests", COMI, which is a central concept in EU and international insolvency law. The determination of just one centre of the debtor's main interests is legally important for the establishment of exclusive jurisdiction, and also corresponds to the principle of the universality and unity of main proceedings. The criterion of administration "on a regular basis" is considered to correspond to the notion of the "centre". The place of the regular administration of the debtor's main interests needs to be ascertainable by third parties. The two criteria of "administration" and "ascertainability" are cumulative. Group coordination proceedings (GCP) are an innovative mechanism for stronger procedural consolidation, inserted in the Regulation at the initiative of the European Parliament. International arbitration may be described as the opposite of insolvency proceedings.
