Case C-85/12: Judgment of the Court (Fifth Chamber) of 24 October 2013 (request for a preliminary ruling from the Cour de cassation — France) — LBI hf, formerly Landsbanki Islands hf v Kepler Capital Markets SA, Frédéric Giraux (Request for a preliminary ruling — Reorganisation and winding-up of credit institutions — Directive 2001/24/EC — Articles 3, 9 and 32 — National legislative act conferring on reorganisation measures the effects of winding-up proceedings — Legislative measure prohibiting or suspending any legal proceedings against a credit institution after the entry into force of a moratorium)
Date: 2013-10-24
Institutions: Court of Justice
Subjects: EU Member State, branch, credit institution, interpretation of the law, liquidation








C_2013367EN.01000602.xml










14.12.2013   


EN


Official Journal of the European Union


C 367/6





Judgment of the Court (Fifth Chamber) of 24 October 2013 (request for a preliminary ruling from the Cour de cassation — France) — LBI hf, formerly Landsbanki Islands hf v Kepler Capital Markets SA, Frédéric Giraux
(Case C-85/12) (1)

(Request for a preliminary ruling - Reorganisation and winding-up of credit institutions - Directive 2001/24/EC - Articles 3, 9 and 32 - National legislative act conferring on reorganisation measures the effects of winding-up proceedings - Legislative measure prohibiting or suspending any legal proceedings against a credit institution after the entry into force of a moratorium)
2013/C 367/09
Language of the case: French

Referring court

Cour de cassation

Parties to the main proceedings


Applicant: LBI hf, formerly Landsbanki Islands hf

Defendants: Kepler Capital Markets SA, Frédéric Giraux

Re:

Request for a preliminary ruling — Cour de cassation — Interpretation of Articles 3, 9 and 32 of Directive 2001/24/EC of the European Parliament and of the Council of 4 April 2001 on the reorganisation and winding up of credit institutions (OJ 2001 L 125, p. 15) — Authorities authorised to adopt reorganisation and winding up measures for credit institutions — Administrative or judicial authorities — Permissibility of measures stemming directly from a law of a Member State of the EEA — Law applicable to proceedings concerning assets of a credit institution situated in a Member State — Effects on the application, in a Member State, of a legislative measure of another Member State, prohibiting or suspending any legal proceedings against a credit institution after the entry into force of a moratorium, in the case of interim protective measures adopted prior to the declaration of the moratorium

Operative part of the judgment







1.


Articles 3 and 9 of Directive 2001/24/EC of the European Parliament and of the Council of 4 April 2001 on the reorganisation and winding up of credit institutions must be interpreted as meaning that reorganisation or winding-up measures in regard to a financial institution, such as those based on the transitional provisions in point II of Law No 44/2009, are to be regarded as measures adopted by an administrative or judicial authority for the purposes of those articles of Directive 2001/24, where those transitional provisions take effect only by means of judicial decisions granting a moratorium to a credit institution.










2.


Article 32 of Directive 2001/24 must be interpreted as not precluding a national provision, as Article 98 of Law No 161/2002 on financial institutions, as amended by Law No 129/2008 of 13 November 2008, which prohibited or suspended any legal action against a financial institution once it benefitted from a moratorium, from being effective in regard to interim protective measures, such as those at issue in the main proceedings, adopted in another Member State before the declaration of the moratorium.






(1)  OJ C 118, 21.4.2012.