EU Banking and Insurance Insolvency / Edition 2

by Gabriel Moss QC, Bob Wessels, Matthias Haentjens

Overview

Following the chaotic effects of the global financial crisis on European financial markets, the legislative regime introduced by the European Union (EU) represents a dramatic new approach to bank insolvency law, and will have a profound effect on the way banks function. The second edition of EU Banking and Insurance Insolvency evaluates these important developments and their implications for the Eurozone countries. A comprehensive general introduction sets out the EU insolvency law framework and the principles which govern financial institutions.

The book provides detailed commentary on the Bank Recovery and Resolution Directive (BRRD) and Single Resolution Mechanism Regulation (SRMR), the legislative instruments central to the EU's response to the crisis, intended to harmonize Member States law. It considers the new powers given to government authorities under the BRRD to write down shares and debt instruments issued by banks, and the function of the newly created 'Single Resolution Board'. Commentary on the Winding-Up Directive (2001/24/EC) and the Insurance Insolvency Directive (2001/17/EC) discusses the significant changes these statutes have undergone as a consequence of the adoption of the BRRD and SRMR, as well as several high-profile court cases decided on the interpretation of these two statutes, including the Landsbanki and Kaupthing cases, and the Lehman Brothers, Isis Investments, and Heritable Bank cases.

This is an invaluable practitioner guide to the new European banking insolvency regime, written by experts in the field.

Product Details

ISBN-13:	9780198759393
Publisher:	Oxford University Press
Publication date:	04/16/2017
Edition description:	2nd ed.
Pages:	720
Product dimensions:	6.80(w) x 9.80(h) x 1.70(d)

About the Author

Gabriel Moss QC, Barrister, South Square,Bob Wessels, Professor of Law, Leiden Law School,Matthias Haentjens, Professor of Financial Law, Leiden Law School

Gabriel Moss QC is a barrister in private practice at South Square Chambers. He serves part-time as a deputy High Court judge of the Chancery Division and is a part-time Visiting Professor in Corporate Insolvency Law at Oxford University.

Bob Wessels is an independent legal counsel, advisor and arbitrator with over 40 years of experience. He was a law professor for over 25 years (Professor of International Insolvency Law, University of Leiden 2007-2014; Professor of Civil and Commercial Law, Vrije University Amsterdam 1988-2008), and retired in 2014.

Matthias Haentjens is Professor of Financial Law at Leiden Law School, University of Leiden. Prior to joining Leiden Law School, he was an attorney with De Brauw Blackstone Westbroek. In this capacity, he handled cases both as a transaction lawyer and as a (supreme court) litigator.

Table of Contents

Part I. General Introduction1. The EU Financial Institution Insolvency Law Framework, Gabriel Moss QC, Bob Wessels, and Matthias Haentjens2. Principles for Cross-Border Financial Institution Insolvencies, Gabriel Moss QC, Bob Wessels, and Matthias HaentjensPart II: Commentary on Directive 2001/24/EC on the Reorganisation and Winding-Up of Credit Institutions3. Commentary on Directive 2001/24/EC on the Reorganisation and Winding-Up of Credit Institutions, Bob WesselsPart III: Commentary on Title IV of Directive 2009/138/EC on the Taking-Up and Pursuit of the Business of Insurance and Reinsurance (Solvency II)4. Commentary on Title IV of Directive 2009/138/EC on the Taking-Up and Pursuit of the Business of Insurance and Reinsurance (Solvency II), Gabriel Moss QC and Ryan PerkinsPart IV: Bank Recovery and Resolution Directive and SMR5. Title I: Scope, definitions and authorities, Matthias Haentjens6. Titles II and III: Preparation and Early intervention, Matthias Haentjens7. Title IV: Resolution, Matthias Haentjens8. Titles V and VI: Cross-border group resolution and Third countries, Matthias Haentjens9. Titles VII and VIII: Financing arrangements and Penalties, Matthias HaentjensPart V: National Implementation in the EU10. France, Hubert de Vauplane, Gilles Kolifrath, and Alexa Brouillou11. Germany, Jens-Hinrich Binder12. Iceland, Eyvindur G. Gunnarsson13. Ireland, Blanaid Clarke14. Spain, Ignacio Tirado15. United Kingdom, Ian Fletcher, Hannah Thornley, and Robert Amey

Editorial Reviews

"This excellent and well-established work of reference deals with all these (CTWUD, IWUD, AND BRRD), and of course much more, clarifying along the way, the complexities of this admittedly complex subject ... there is a considerable amount of additional new material in this volume which makes the purchase of this book a sensible decision for practitioners in this field." - Elizabeth Taylor and Richard Taylor MBE, Richmond Green Chambers.

From the Publisher