Creditor Priority in European Bank Insolvency Law: Financial Stability and the Hierarchy of Claims

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Sjur Swensen Ellingsæter (BI Norwegian Business School, Norway) John Linarelli (University of Pittsburgh USA)

Creditor Priority in European Bank Insolvency Law

Financial Stability and the Hierarchy of Claims

Sjur Swensen Ellingsæter (BI Norwegian Business School, Norway), John Linarelli (University of Pittsburgh USA), Teresa Rodríguez de Las Heras Ballell (University Carlos III of Madrid Spain)

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English

Hart Publishing
22 August 2024

Banking law

Series: Hart Studies in Commercial and Financial Law

This book provides the first comprehensive treatment of creditor priority in European bank insolvency law.

Following reform in the wake of the global financial crisis, EU law requires that Member States have in place bank-specific insolvency frameworks. Creditor priority—the order in which different creditors bear losses should a bank fail—differs substantially between bank-specific and general insolvency law. The bank-specific creditor priority framework aims to ensure that banks can enter insolvency proceedings without disrupting financial stability.

The book provides a systematic and thorough account of the Bank Recovery and Resolution Directive and other EU legislation that governs creditor priority in bank resolution and liquidation proceedings, and their interaction with national law. The framework is analysed from several perspectives, including comparison with creditor priority in English, German and Norwegian general insolvency law. Moreover, the book places the evolution of the framework and its justifications within the broader post-crisis shifts in bank regulation, and critically examines the assumptions that underlie these developments. Finally, the book discusses how this area of law could evolve in the future.

By: Sjur Swensen Ellingsæter (BI Norwegian Business School Norway)
Edited by: John Linarelli (University of Pittsburgh USA), Teresa Rodríguez de Las Heras Ballell (University Carlos III of Madrid Spain)
Imprint: Hart Publishing
Country of Publication: United Kingdom
Dimensions: Height: 234mm, Width: 156mm, Spine: 25mm
Weight: 454g
ISBN: 9781509953691
ISBN 10: 1509953698
Series: Hart Studies in Commercial and Financial Law
Pages: 280
Publication Date: 22 August 2024
Audience: Professional and scholarly , Undergraduate
Format: Paperback
Publisher's Status: Active

Sjur Swensen Ellingsæter is Associate Professor at the Department of Law and Governance, BI Norwegian Business School, Norway.

Reviews for Creditor Priority in European Bank Insolvency Law: Financial Stability and the Hierarchy of Claims

Given the complexity and interconnectedness of the financial system ... this book may help the reader to understand the rationale behind such differences and with considering more suitable and efficient rules for crisis management regimes in the banking sector. * International and Comparative Law Quarterly *