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English court accepts US COMI method in Toisa case

By Kyriaki Karadelis

10 April 2019

English court accepts US COMI method in Toisa case iStock.com/plej92

An English court has recognised the Chapter 11 proceedings of a Bermudian oil driller, accepting its centre of main interest should be assessed the American way - at the time the recognition application was made, rather than at the time of the foreign bankruptcy petition.