The European Banking Union may consist mostly of administrative law, but (national) private laws play an important role, which also has its consequences for judicial review. This chapter sets out the complex interplay between private law and administrative law in the Banking Union, and argues that the Single Supervision Mechanism and Single Resolution Mechanism will probably lead to a further blurring of the lines between the two areas of law.
Matthias Haentjens and Pim Rank
Edited by Matthias Haentjens and Bob Wessels
Matthias Haentjens and Bob Wessels
Jouke Tegelaar and Matthias Haentjens
In the EU, responsibility for bank resolution has dramatically shifted from the bankruptcy courts to administrative authorities and administrative courts. Moreover, the centralization of resolution decision-making within the Single Resolution Mechanism (SRM) has made the system of judicial protection dual-layered in the Eurozone, so that both the national courts and the Court of Justice of the European Union share jurisdiction. How has the radical new Eurozone regime impacted judicial protection in cross-border bank resolution? This chapter discusses, first, the legal framework for resolution under the SRM Regulation, at both the European and national level. Subsequently, the system of judicial protection is analyzed on the basis of EU case law and the admissibility criteria for the EU Court. Here, the interplay between EU and national courts takes center stage. It is concluded that the new regime provides for judicial review, but that the possibilities for this review are limited.