Insight: “Judicial protection and rule of law vs automatic recognition of administrative reorganisation measures for banks in pending judicial proceedings” by Dolores Utrilla

Today, Advocate General Kokott delivered her Opinion in Banco de Portugal and Others (C-504/19), a case stemming from a request for a preliminary ruling from the Spanish Supreme Court concerning the interpretation (and, implicitly, also the validity) of Directive 2001/24 on the reorganisation and winding up of credit institutions. This is a very interesting case on the procedural effects (in judicial proceedings pending in one Member State) of mutual recognition of reorganisation measures for credit institutions adopted in a different Member State, and on the compatibility thereof with the right to effective judicial protection and the rule of law.

1. Background of the case

The request for a preliminary ruling stems from a