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
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Before the Court of Justice of the European Union
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Member States and the Union institutions, as well as any natural or legal person, when the SRB decision is addressed to that person...