| English term or phrase: Foreign “main” proceedings | This is the context of the phrase:
"The company is appointed as a foreign “main” proceedings."
This is the online English explanation of the phrase:
"Under Chapter 15, a foreign “main” proceeding is a foreign proceeding pending in the country where the debtor has the center of its main interests (COMI). Under the Bankruptcy Code, the COMI is presumed to be the location of the debtor’s registered office, absent evidence to the contrary. Judge Lifland held that the evidence showed that the COMI was in the United States, not in the Cayman Islands, thus rejecting the assertion that the Cayman Islands proceedings were foreign “main” proceedings. The funds had no employees or managers in the Cayman Islands, the investment manager for the funds was located in New York, the back-office operations were located in Massachusetts..." |
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The translation workplace 
peer agreement (net): +2
