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Abstract
The Bank Recovery and Resolution Directive (BRRD) created an EU legal framework for dealing with failing banks. This article examines the implications of a pivotal case that tested what constitutes an effective resolution matter. It argues there is a fine balance to be struck here. On the one hand giving automatic effect to any resolution measure would be dangerous for the common resolution framework. On the other hand, courts might be tempted to follow a restrictive interpretation of which resolution measures fall within the BRRD in order to safeguard their jurisdiction.
Notes
1 Directive 2014/59/EU
2 Goldman Sachs International v Novo Banco [2015] EWHC 2371 (Comm).
Additional information
Notes on contributors
Valia Babis
Valia Babis ([email protected]), PhD & LLM (Cantab), is Junior Research Fellow at Wolfson College, Cambridge and Legal Advisor at Allen & Overy LLP. All opinions expressed in this note are the personal opinions of the author. The usual disclaimers apply.