With its decision to dismiss the appeal against the commencement of insolvency proceedings in Germany, the German Federal Court of Justice finally concluded the legal dispute over the centre of main interest ("COMI") of Galapagos S.A. and thus the correct forum for insolvency proceedings over its assets. This judgment followed the decision of the European Court of Justice ("ECJ") on certain questions on the interpretation of the European Insolvency Regulation referred to the ECJ by the German Federal Court of Justice.
Click here to read the full insight: "COMI Shifts in Europe – New Developments."
