Legal Protection against Decisions of the Single Resolution Board pursuant to Article 85 Single Resolution Mechanism Regulation
18 Pages Posted: 4 Feb 2017 Last revised: 13 Jul 2018
Date Written: February 2, 2017
The Single Resolution Board is a powerful authority in the European Union – perhaps even one of the most powerful. The system for legal protection against decisions of the Single Resolution Board based on Article 85 of the Regulation (EU) No 806/2014 is highly complex. The competent Appeal Panel has rejected more than 80 per cent of all cases up to now and decided that the large majority of all appeals were not even admissible. Nevertheless, the legal literature on legal protection against decisions of the Single Resolution Board is minimal. As far as can be seen, no in-depth examination of the appeal procedure has been published yet. Case law of the Court of the European Union is not (yet) available. This study examines Article 85 of the Regulation (EU) No 806/2014 and presents an interpretation of the legal protection system that balances the interests of credit institutions as well as the interests of the European financial market and the European taxpayers in a powerful European resolution authority. The results are summarised in 10 theses at the end of this paper for further discussion.
Keywords: Single Resolution Board (SRB), SRM, Legal Protection, Appeal, Appeal Panel, National Resolution Authority, Credit Institution, Banking, Insolvency
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