Judgment_paragraph 53 · LBI hf v Kepler Capital Markets SA and Frédéric Giraux (C-85/12)

53The scope of Article 32 of Directive 2001/24 is clarified by recital 30 in the preamble to that directive, which makes a distinction between ‘lawsuits pending’ and ‘individual enforcement actions’. According to that recital, first, the effects of reorganisation measures or winding-up proceedings on a ‘lawsuit pending’ are governed by the law of the Member State in which the lawsuit is pending, by way of exception to the application of the lex concursus. Second, the effects of those measures and of those proceedings on ‘individual enforcement actions’ arising from such lawsuits are governed by the legislation of the home Member State, in accordance with the general rule established by that directive.