3.2.1. Recognition of the Main Insolvency Proceedings and its Effects

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Any judgment to open insolvency proceedings by a court of a Member State which

has jurisdiction is recognised by all Member States as of the moment the judgment

becomes effective in the Member State where the proceedings have been opened.1"'

Consequently, recognition of the judgment takes place de iure\ no decision by a court,

an exequatur, or any other formality of the recognising state is required. Recognition

is a fact as soon as the decision to open insolvency proceedings is effective in the

ibidem.

Report Virgos-Schmit, para. 263.

Article 16111. Article 16 applies to both main and secondary proceedings but the etiects of recognitic

are different. As to secondary proceedings, see inirti para. 4.

Nteisentia review the jurisdiction of the court opening proceedings, the possibility would tie facto

be reserved for the court first in time."'