Vol 16 (2019) - Issue 2

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Re Videology Ltd [2018] EWHC 2186 (Ch)

Synopsis

In the recent High Court decision of Re Videology Ltd, Snowden J was asked to recognise proceedings under Chapter 11 of the US Bankruptcy Code in relation to Videology Ltd ('Videology') as a foreign main proceeding under the Cross-Border Insolvency Regulations 2006 (the 'CBIR'). The court was not satisfied that Videology’s centre of main interests ('COMI') was in the United States and refused to recognise the Chapter 11 proceedings as a foreign main proceeding but did recognise the proceedings as a foreign non-main proceeding and granted the discretionary relief sought. The judgment provides a useful summary of some of the key factors and considerations that courts will take into account when considering COMI.