Press Release: Advocate General’s Opinion in Case C-85/12. Société Landsbanki Islands HF

Advocate General Cruz Villalón considers that the Directive on the reorganisation and winding up of credit institutions does not preclude the adoption by law, as in Iceland, of measures to reorganise financial institutions.

For that to be possible, such measures must refer to specific establishments and the persons affected by them must be granted an effective remedy before the courts.

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