Directive 2001/24/EC of the European Parliament and of the CouncilShow full title

Directive 2001/24/EC of the European Parliament and of the Council of 4 April 2001 on the reorganisation and winding up of credit institutions

Article 30U.K.Detrimental acts

1.Article 10 shall not apply as regards the rules relating to the voidness, voidability or unenforceability of legal acts detrimental to the creditors as a whole, where the beneficiary of these acts provides proof that:

  • the act detrimental to the creditors as a whole is subject to the law of a Member State other than the home Member State, and

  • that law does not allow any means of challenging that act in the case in point.

2.Where a reorganisation measure decided on by a judicial authority provides for rules relating to the voidness, voidability or unenforceability of legal acts detrimental to the creditors as a whole performed before adoption of the measure, Article 3(2) shall not apply in the cases provided for in paragraph 1 of this Article.