January 23
2022
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Emilija Berzanskaite
Emilija Berzanskaite
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11th October 2021
Banking & Finance Human Rights

Op-Ed: “Bank of Slovenia’s Bail-in Powers Come Under Constitutional Scrutiny by the Strasbourg Court” by Kern Alexander

The judgment of the European Court of Human Rights (the ‘Court’) in Pintar and Others v. Slovenia provides an important statement on the procedural safeguards for the protection of property rights for shareholders and bondholders of banks that are forced into resolution.

The case concerned extraordinary measures taken by the Bank of Slovenia in 2013-14 against several major Slovenian banks, resulting in the cancellation or bailing-in of the applicant shareholders and bondholders of the banks. The Court made two important holdings: 1) that the value of shares and bonds in a failing bank that had lost most of their value could still constitute ‘possessions’ under Article 1 of Protocol No. 1 of the ECHR based on the proprietary natur

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