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Insolvency Law

Expert guidance on all aspects of corporate and personal insolvency

22 MAY 2013

Die Sparkasse Bremen AG v Armutcu [2012] EWHC 4026 (Ch); [2013] BPIR 210

(Chancery Division, Proudman J, 6 November 2012)

A secured creditor successfully obtained the annulment of the debtor's bankruptcy, on the basis that the debtor's COMI was based elsewhere when the bankruptcy order was made. Proudman J granted the debtor permission to appeal, but dismissed it. Secured creditors could make an application to annul a bankruptcy order provided they had a legitimate interest in the matter. An application to annul could be made after discharge. On the issue of COMI, the Deputy Registrar had carefully analysed the position and had decided as a finding of fact that the appellant's COMI was located in Germany when he presented his bankruptcy petition.

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