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ABLV

Press Release
The Single Resolution Board does not take resolution action in relation to ABLV Bank, AS and its subsidiary ABLV Bank Luxembourg S.A.
Press releases | 24 February 2018

Following the decision by the European Central Bank to declare ABLV Bank, AS and its subsidiary ABLV Bank Luxembourg S.A. as ‘failing or likely to fail’, the Single Resolution Board (SRB) has decided that resolution action is not necessary as it is not in the public interest for these banks. As a consequence, the winding up of the banks will take place under the law of Latvia and Luxembourg, respectively.

The SRB concurred with the ECB’s assessment and concluded that there are no available supervisory or private sector measures which could prevent the failure of the banks. Upon careful...

Decision documents

Directives and regulations related to this decision

Following the decision by the European Central Bank to declare ABLV Bank, AS and its subsidiary ABLV Bank Luxembourg S.A. as ‘failing or likely to fail’, the Single Resolution Board (SRB) has decided that resolution action is not necessary as it is not in the public interest for these banks. As a consequence, the winding up of the banks will take place under the law of Latvia and Luxembourg, respectively.

Appeal proceedings

Decisions of the SRB may be challenged before the Appeal Panel of the SRB or before the Court of Justice of the European Union.

Before the Appeal Panel

Which decisions?
The competence of the Appeal Panel is determined by Article 85(3) of the SRM Regulation. Only the decisions of the SRB referred to in...

Who may appeal?
Any natural or legal person, including authorities, when the SRB decision is addressed to that person...

Before the Court of Justice of the European Union

Which decisions?
All decisions of the SRB that are not appealable before the Appeal Panel, pursuant to...

Who may appeal?
Member States and the Union institutions, as well as any natural or legal person, when the SRB decision is addressed to that person...