Doctoral defence: Märt Maarand “Credit institution’s limited rights for appealing the recovery and resolution measures in the European Union laws”

On 26 August at 14:00 Märt Maarand will defend his doctoral thesis “Credit institution’s limited rights for appealing the recovery and resolution measures in the European Union laws“.

Supervisor:
Professor Irene Kull, University of Tartu

Opponent:
Professor Filippo Annunziata, Bocconi University (Italy)

Summary
Banking sector may seem an elite business and restricted access as well as heavy regulatory burden truly make it such. However, even banks need and deserve protection from arbitrary conduct by the authorities to guarantee the protection of basic rights and sustainability of the sector. The dissertation tackles the problem of significant limitations to banks’ rights in the recovery and resolution framework. New powers have been created for European Union and national authorities for recovery and resolution proceedings, but the banks’ rights regarding appealing have not been modified on the same level. These new powers entail problems regarding the applicable procedural rules, in some cases it is impossible to appeal against extremely intensive measures, and even if a target bank manages to appeal, such judicial proceedings are pushed more and more to the more distant and costly European Courts. The thesis investigates the problem of limiting banks’ rights in bank recovery and resolution proceedings from three main aspects. It concludes that bank recovery is a distinguishable concept from supervision and resolution, it entails its own set of public powers, and conditions and rules for using them. The dissertation also discovers that although some of the public powers under investigation may have very intensive and wide impact on the bank, its shareholders, customers and creditors, it may alarmingly be impossible for a bank to appeal against some of these powers – even if such application has been clearly unlawful by the authorities. And thirdly, the dissertation establishes rules and a test for finding out the court jurisdiction between European Union and national courts for decisions in the banking sector.

The defence will be held in Zoom: https://ut-ee.zoom.us/j/91277787133?pwd=dnhveWhHRE9yUVhIV1dENm1mbTRlUT09.
Meeting ID: 912 7778 7133, Passcode:  551665.