ECJ Request for a preliminary ruling – Reorganisation and winding-up of credit institutions – Directive 2001/24/EC – Articles 3, 9 and 32 – National legislative act conferring on reorganisation measures the effects of winding-up proceedings – Legislative measure prohibiting or suspending any legal proceedings against a credit institution after the entry into force of a moratorium
The Court referred to the purpose of the Reorganisation Directive: ‘At the outset, it must be borne in mind that, as is apparent from recital 6 in its preamble, Directive 2001/24 seeks to establish mutual recognition by the member states of the measures taken by each of them to restore to viability the credit institutions which it has authorised. That objective, and that of guaranteeing equal treatment of creditors, laid down in recital 16 to that directive, require that the reorganisation and winding-up measures taken by the authorities of the home member state have, in all the other member states, the effects which the law of the home member state confers on them.’
The Directive established: ‘a system of mutual recognition of national reorganisation and winding-up measures, without seeking to harmonise national legislation on that subject.’
T von Danwitz P
C-85/12, [2013] EUECJ C-85/12
Bailii
Directive 2001/24/EC
European
Cited by:
Cited – Goldman Sachs International v Novo Banco SA SC 4-Jul-2018
A banking facility was provided under a contract applying English law and jurisdiction. The parties now disputed whether on an assignment the dispute was to be resolved under Portuguese law.
Held: Recognition in the United Kingdom of measures . .
Lists of cited by and citing cases may be incomplete.
Updated: 29 July 2021; Ref: scu.516986
