Update from the CJEU: First-time Ruling on the Lawfulness of a Decision Concerning a Resolution Scheme adopted by the Single Resolution Board

• Jurisdiction: European Union
• Year: 2022
• Author: Myrte Thijssen

Speaker

Myrte Thijssen started her career in the Legal Service of the Dutch Central Bank (Supervision and Regulation Department). From 2015-2019 she worked in the Legal Service of the Single Resolution Board, providing internal advice in banking crises and dealing with litigation before the Appeal Panel and the Court of Justice of the European Union – including concerning the resolution of Banco Popular Español.

She currently works at the International Institute for the Unification of Private Law (UNIDROIT), where she is responsible for the project on Bank Insolvency. Myrte studied at the University of Amsterdam and New York University. She has taught Corporate Law at the University of Amsterdam, and Law of Bank Crisis Management at the University of Bologna.

Topic

The presentation provides a comprehensive analysis of the five crucial judgments delivered by the General Court of the European Union, which pertain to the resolution scheme implemented for the Banco Popular Español. These judgments hold significant implications for the bank resolution framework and are accompanied by detailed reasonings that shed light on their legal and practical significance.

The first aspect addressed in the presentation is the background and context of the Banco Popular Español's resolution scheme. It highlights the circumstances that led to the resolution of the bank and the subsequent legal challenges that arose. This background information sets the stage for understanding the importance of the General Court's judgments and their impact on the broader banking and financial landscape.

The presentation then delves into a thorough examination of the reasoning behind each of the five judgments. It dissects the legal arguments put forth by the parties involved, including the European Commission, the...