Petition is addressed to: Petitionsausschuss des Europäischen Parlaments

The petitioner claims that the Agència Estatal de Resolució d’Entitats Bancàries (AREB) in Andorra has infringed Directive 2014/59/EU, and more in particular Recital 1, which states: “In addition, where necessary in order to protect third parties who have acquired assets, rights and liabilities of the institution under resolution in good faith by virtue of the exercise of the resolution powers by the authorities and to ensure the stability of the financial markets, a right of appeal should not affect any subsequent administrative act or transaction concluded on the basis of an annulled decision. In such cases, remedies for a wrongful decision should therefore be limited to the award of compensation for the damages suffered by the affected persons”.