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The concept of COMI is applied when seeking to issue ‘Main Proceedings’ under the Cross Border Regulations 2006, wanting to apply English & Welsh insolvency and restructuring processes and procedures in another jurisdiction where there are assets and property belonging to the company commencing the proceedings.
The United Kingdom adopted a United Nations treaty, ‘UNCITRAL’, which enabled those countries who signed up to it to enact legislation based upon it and so use local insolvency and restructuring laws across multiple jurisdictions. For example, if a Liquidation commences in England & Wales and the Liquidator discovers there are assets in another country/jurisdiction that she wants to pursue, she can take English & Welsh laws and processes to that country, as long as a COMI is initially proved in England & Wales.
There can only be one COMI, so only one set of Main Proceedings.
[See ‘Main Proceedings’, UNCITRAL’, ‘Establishment’ and ‘Non-Main Proceedings’.]
A Certificated Enforcement Officer is someone who can do the job often referred to as a ‘bailiff’, but also has the qualifications and experience to demonstrate they do the job in a professional manner, and within all the applicable laws. They were previously called ‘bailiffs’ and are certificated by the County Court.
There are two main roles for Certificated Enforcement Officers – as a certificated bailiff and as a court-appointed officer.
[See ‘Bailiff’.]
The Certificate in Insolvency (CII) is an ‘entry level qualfication’, equivalent to the Insolvency Practitioners’ Association (IPA) Certificate of Proficiency Insolvency (CPI).
The CII is the insolvency and restructuring qualification of the Institute of Chartered Accountants of England and Wales (ICAEW).
