Κατεύθυνση Αστικό Δίκαιο
Library of the School of Law

2017-10-08

2017

Loudarou Ioanna

Γεώργιος Κ. Λέκκας, Αναπληρωτής Καθηγητής , Α’ Ιδιωτικού Δικαίου, Τμήμα Νομικής, ΕΚΠΑ
Γεώργιος Α. Γεωργιάδης, Επίκουρος Καθηγητής, Α' Ιδιωτικού Δικαίου, Τμήμα Νομικής, ΕΚΠΑ
Χριστίνα Σταμπέλλου, Αναπληρώτρια Καθηγήτρια, Α' Ιδιωτικού Δικαίου, Τμήμα Νομικής, ΕΚΠΑ

H εφαρμογή του BAIL-IN στην διαδικασία εξυγίανσης των πιστωτικών ιδρυμάτων. Νομοθεσία, Διαδικασία και Νομικοί Προβληματισμοί

Greek

The BAIL-IN tool within the framework of resolution of credit institutions. Legislation, Procedure and Legal Aspects

The recent financial crisis has demonstrated that when the largest cross-border banks need to be put under resolution, the entire financial system could be affected significantly and even threatened. During a long period of time, the resolution of the banks was not preferred and recapitalization was taking place instead, via state aid, i.e. taxpayers’ burden. However, this practice changed with the adoption of the Bank Recovery and Resolution Directive (BRRD) and Regulation 806/2014 (Single Resolution Mechanism, SRM), which established a new recovery and resolution framework. This framework introduced a new resolution tool, the so called “bail-in tool”. The application of this tool results to the writing down of shares or other ownership titles or/and their transfer or conversion of creditors' claims into shares or other ownership titles.
This paper analyzes the application of the bail-in tool that touches upon legal aspects which may arise, such as the intervention in contractual relationships, the compensation right of shareholders / creditors, and the interference with the property and shareholders’ rights. Finally, this paper describes the application of bail-in in Cyprus and presents the relevant case law, with the aim to highlight the advantages and disadvantages of the tool.

Law and Legislation

Civil Law

BRRD, SRM, bail-in, bail-out

Yes

2

Yes

87

96

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https://pergamos.lib.uoa.gr/uoa/dl/object/1914802