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Book

EU Banking and Insurance Insolvency (second edition)

Just Published: EU Banking and Insurance Insolvency (second edition)
Authored and Edited by Gabriel Moss QC, Bob Wessels and Matthias Haentjens
Published by Oxford University Press

Author
Gabriel Moss QC, Bob Wessels & Matthias Haentjens (eds.)
Date
24 February 2017

With little exaggeration, it might be contended that there has been no other area of law in which the developments over the last five years have been so numerous and so fundamental as in European banking and insurance insolvency law.

The previous edition of this book was published in 2006. Little could the authors know that only a couple of years after that book was first published, the financial world would be shaken to the core and the EU would be severely shocked by consecutive financial, banking and economic crises. These crises led the European legislature to the conviction that the then existing legislative framework was inadequate to deal with the insolvencies of, specifically, credit institutions. A fundamental overhaul of the legislative framework was the result.

As a consequence, the book EU Banking and Insurance Insolvency needed a fundamental revision, too. Hence, the book is now structured in Parts. In the first Part, two introductory chapters have been significantly extended and now include an introduction to the Banking Union, as well as to substantive, European bank insolvency law. The second Part contains an updated commentary on the Winding-Up Directive (2001/24/EC), while Part III comments on the Insurance Insolvency Directive (2001/17/EC), which now forms part of the Solvency II Directive (2009/138/EC). A new Part IV consists of an extensive commentary on the Bank Recovery and Resolution Directive (2014/59/EU), with references to the Single Resolution Mechanism Regulation (806/2014) where relevant. In Part V, national reports discuss the concrete provisions as implemented in key jurisdictions. The book concludes with the full text of the Winding-Up Directive, Title IV of Solvency II, BRRD and SRMR.

This book aims to provide expert insight into the most important aspects of modern European banking and insurance insolvency law. Its focus has always been (as was the focus of the previous edition): cross-border issues of bank and insurance insolvencies. The book states the law as it was on 1 august 2016, but it also includes some further developments, such as the Novo Banco case on appeal, and the EU Commission’s recent Reform Package of 23 November 2016. Importantly, it has become clear now the UK will withdraw from the EU. But the EU Directives discussed in this book will remain applicable in the UK, as does the domestic legislation implementing the same for at least the coming years.

The book should therefore be interesting for anyone dealing with insurance and bank insolvency or potential insurance and bank insolvency; solicitors and advocates within the EU and advising on the situation; academics; students; in-house lawyers for banks and reinsurance companies. For a detailed table of contents, as well as author information and purchase options: click here.