Court of Justice (Fifth Chamber) 4 October 2018, C-571/16 (Nikolay Kantarev v Balgarska Narodna Banka.)

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The Court's judgment addresses the interpretation of Directive 94/19 concerning deposit guarantee schemes, specifically ruling that national legislation cannot condition the unavailability of deposits on the insolvency of credit institutions or require prior requests for payment from account holders. It establishes that individuals have the right to seek damages for delays in deposit repayment, provided there is a sufficiently serious breach of EU law and a direct causal link to the harm suffered. Furthermore, it clarifies the conditions under which national laws can provide remedies for such breaches, ensuring compliance with EU principles of equivalence and effectiveness.AI