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Document 62017CA0107
Case C-107/17: Judgment of the Court (Fourth Chamber) of 25 July 2018 (request for a preliminary ruling from the Lietuvos Aukščiausiasis Teismas — Lithuania) — ‘Aviabaltika’ UAB v ‘Ūkio bankas’ AB, in liquidation (Reference for a preliminary ruling — Directive 2002/47/EC — Enforcement of financial collateral arrangements — Commencement of insolvency proceedings against the collateral taker — Occurrence of the enforcement event — Inclusion of the financial collateral in the assets remaining after the insolvency — Obligation to satisfy the claims primarily from the financial collateral)
Case C-107/17: Judgment of the Court (Fourth Chamber) of 25 July 2018 (request for a preliminary ruling from the Lietuvos Aukščiausiasis Teismas — Lithuania) — ‘Aviabaltika’ UAB v ‘Ūkio bankas’ AB, in liquidation (Reference for a preliminary ruling — Directive 2002/47/EC — Enforcement of financial collateral arrangements — Commencement of insolvency proceedings against the collateral taker — Occurrence of the enforcement event — Inclusion of the financial collateral in the assets remaining after the insolvency — Obligation to satisfy the claims primarily from the financial collateral)
Case C-107/17: Judgment of the Court (Fourth Chamber) of 25 July 2018 (request for a preliminary ruling from the Lietuvos Aukščiausiasis Teismas — Lithuania) — ‘Aviabaltika’ UAB v ‘Ūkio bankas’ AB, in liquidation (Reference for a preliminary ruling — Directive 2002/47/EC — Enforcement of financial collateral arrangements — Commencement of insolvency proceedings against the collateral taker — Occurrence of the enforcement event — Inclusion of the financial collateral in the assets remaining after the insolvency — Obligation to satisfy the claims primarily from the financial collateral)
OJ C 328, 17.9.2018, p. 13–13
(BG, ES, CS, DA, DE, ET, EL, EN, FR, HR, IT, LV, LT, HU, MT, NL, PL, PT, RO, SK, SL, FI, SV)
- Date of document:
- 25/07/2018
- Date lodged:
- 03/03/2017
- Author:
- Court of Justice
- Form:
- Judicial information
- Authentic language:
- Lithuanian
- Type of procedure:
- Reference for a preliminary ruling, Reference for a preliminary ruling - inadmissible
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- Case affecting:
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- Related EU case-law document 62017CJ0107
- Instruments cited in case law:
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- EUROVOC descriptor:
|
17.9.2018 |
EN |
Official Journal of the European Union |
C 328/13 |
Judgment of the Court (Fourth Chamber) of 25 July 2018 (request for a preliminary ruling from the Lietuvos Aukščiausiasis Teismas — Lithuania) — ‘Aviabaltika’ UAB v ‘Ūkio bankas’ AB, in liquidation
(Case C-107/17) (1)
((Reference for a preliminary ruling - Directive 2002/47/EC - Enforcement of financial collateral arrangements - Commencement of insolvency proceedings against the collateral taker - Occurrence of the enforcement event - Inclusion of the financial collateral in the assets remaining after the insolvency - Obligation to satisfy the claims primarily from the financial collateral))
(2018/C 328/14)
Language of the case: Lithuanian
Referring court
Lietuvos Aukščiausiasis Teismas
Parties to the main proceedings
Appellant:‘Aviabaltika’ UAB
Respondent:‘Ūkio bankas’ AB, in liquidation
Operative part of the judgment
|
1. |
Article 4(5) of Directive 2002/47/EC of the European Parliament and of the Council of 6 June 2002 on financial collateral arrangements, as amended by Directive 2009/44/EC of the European Parliament and of the Council of 6 May 2009, must be interpreted as requiring Member States to adopt rules which enable a taker of collateral provided under a security financial collateral arrangement to recover its claim, arising from a failure to discharge the relevant financial obligations, from that collateral, where the enforcement event occurs after insolvency proceedings have been commenced against that taker. |
|
2. |
Article 4(1) and (5) of Directive 2002/47, as amended by Directive 2009/44, must be interpreted as not requiring the taker of collateral provided under a security financial collateral arrangement to recover its claim, arising from a failure to discharge the financial obligations covered by that arrangement, primarily from that collateral. |
