Creative Commons

This dissertation Thesis was written as part of the Master of Laws (LL.M.) in Transnational and European Commercial Law, Mediation, Arbitration and Energy Law at the International Hellenic University. Having regard to the complicated nature and structure of multinational corporate groups, and the inherent difficulties entailed when it comes to their insolvency, the present Thesis aspires to offer as comprehensive as possible within the limits of a dissertation an analysis of the new legal framework concerning cross-border insolvency of groups of companies, as introduced by the European Regulation 2015/848 on insolvency proceedings (Recast). The new provisions establishing the mechanisms of coordination and cooperation, and amending the determination of the ‘Centre Of Main Interests’ (COMI), constitute the core of the research. The ultimate purpose of this venture is to address and discuss the effects, feasibility and utility of the innovative, but also ‘conservative’, new regulatory provisions in the context of efficient debt-restructuring procedures. In addition, the implications on the interests of creditors and the legal concerns with regard to the forum shopping phenomenon are also considered.