Regulatory Alerts2024-12-05
Order on the Reconstruction, Bankruptcy, Compulsory Winding Up or Liquidation of Insurance Undertakings
The Danish Financial Supervisory Authority issued this order to implement EU directives regarding the cross-border insolvency and resolution of insurance undertakings. It establishes the legal framework for applying Danish law to the reconstruction, bankruptcy, compulsory winding up, or liquidation of insurance companies, defining key terms and procedures for administrators and liquidators. The regulation mandates specific rules for public disclosure, creditor notification, claim registration, and the recognition of third-party rights across EU member states and associated countries.
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