Amendments to the EU Insolvency Regulation
2.—(1) Article 1 is amended as follows.
(2) For the heading substitute “Application and jurisdiction”.
(3) For paragraph 1 substitute—
“1. The grounds for jurisdiction to open insolvency proceedings set out in paragraph 1B are in addition to any grounds for jurisdiction to open such proceedings which apply in the laws of any part of the United Kingdom.
1A. There is jurisdiction to open insolvency proceedings listed in paragraph 1B where the proceedings are opened for the purposes of rescue, adjustment of debt, reorganisation or liquidation and—
(a)the centre of the debtor’s main interests is in the United Kingdom; or
(b)the centre of the debtor’s main interests is in a Member State and there is an establishment in the United Kingdom.
1B. The proceedings referred to in paragraph 1 are—
(a)winding up by or subject to the supervision of the court;
(b)creditors’ voluntary winding up with confirmation by the court;
(c)administration, including appointments made by filing prescribed documents with the court;
(d)voluntary arrangements under insolvency legislation; and
(e)bankruptcy or sequestration.”.
(4) In paragraph 2 for “Directive 2001/24/EC” substitute “the Credit Institutions (Reorganisation and Winding up) Regulations 2004”.(1)
S.I. 2004/1045. There are amending instruments but none is relevant to this instrument.