EBU Single Rulebook Q&A 29 September 2015 2015_2331 Winding up or liquidation of residual entity
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European Union · · · 21-01-2022
Does the residual entity have to be always liquidated or wound up in accordance with Article 37(6) of Directive 2014/59/EU (BRRD)? Does this provision impose a mandatory obligation? Example: Covered deposits are transferred to BB. Toxic assets are transferred to AST to be wound up. The residual entity does not meet conditions for compulsory insolvency proceedings.
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