Shifting the Centre of Main Interest

Iain Gow writes for Cayman Financial Review on the recent well-documented case of Ocean Rig UDW Inc. the company shifted its center of main interest (COMI) from the Marshall Islands to the Cayman Islands and subsequently filed for provisional liquidation in the Cayman Islands to affect a financial restructuring. How does a company go about shifting its COMI and why should it choose the Cayman Islands as a jurisdiction to restructure its debt via a provisional liquidation?

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