Judgment_paragraph 48 · Banco Santander, SA v J.A.C. and M.C.P.R (C-410/20)

48On that point, it is important to note that Directive 2014/59 also provides a safeguard mechanism for the shareholders and creditors of a credit institution or investment firm under resolution. According to Article 73(b) of that directive, to which Article 34(1)(g) of the same directive refers, shareholders and creditors in such proceeding are entitled to receive in payment of, or compensation for, their claims not less than what it is estimated they would have recovered if the whole institution or firm at issue had been wound up under normal insolvency proceedings.

Banco Santander, SA v J.A.C. and M.C.P.R (C-410/20)

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