In re Millennium Global Emerging Credit Master Fund Ltd.

Ruling: 
Foreign main proceeding recognized where there was no evidence of a center of main interest in any other location.
Procedural posture: 
Petitioner liquidators of debtors in a foreign insolvency proceeding asserted that Bermuda was the center of main interests (COMI) of the debtors within the meaning of 11 U.S.C.S. § 1502(4) and that the insolvency proceeding was properly brought in Bermuda. The liquidators petitioned for recognition of the proceeding as a foreign main proceeding, and an objector opposed the petition on the ground that Bermuda was not the debtors' COMI.
Issue: 
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Commercial case opionion summary, case decided on August 26,2011, LexisNexis #0911-102