Category Archives: financial institutions – winding up

Directive 2001/24: Reorganisation and winding-up of credit institutions – Case E-28/13 LBI hf. v Merrill Lynch International Ltd

The EFTA Court delivered last Friday its judgment in Case E-28/13 LBI hf. v Merrill Lynch International Ltd, a request for an advisory opinion case referred by the District Court of Reykjavik. This case is the last in a series of cases before the EFTA Court and the Court of Justice concerning the interpretation of Directive 2001/24 on the winding-up of credit institutions where an Icelandic financial institution was involved (see judgments in Case E-18/11 Irish Bank and Case C-85/12 Landsbanki). Xavier and I were the agents for the EFTA Surveillance Authority in all three cases. But let’s now come to the recent judgment:

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