Article 77

Directive (EU) 2025/1 of the European Parliament and of the Council of 27 November 2024 establishing a framework for the recovery and resolution of insurance and reinsurance undertakings and amending Directives 2002/47/EC, 2004/25/EC, 2007/36/EC, 2014/59/EU and (EU) 2017/1132 and Regulations (EU) No 1094/2010, (EU) No 648/2012, (EU) No 806/2014 and (EU) 2017/1129 (Text with EEA relevance) · European Union

The resolution authority may refuse to recognise or to enforce third-country resolution proceedings pursuant to Article 76 if it considers: that the third-country resolution proceedings would have adverse effects on financial stability in the Member State in which the resolution authority is based or that the proceedings would have adverse effects on financial stability in another Member State; that independent resolution action under Article 78 in relation to a Union branch of a third-country undertaking is necessary to achieve one or more of the resolution objectives; that creditors would not receive the same treatment as third-country creditors with similar legal rights under the third-country home resolution proceedings; that recognition or enforcement of the third-country resolution proceedings would have material fiscal implications for the Member State; or that the effects of such recognition or enforcement would be contrary to the national law.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-14 · Text as adopted (Official Journal); later amendments are not incorporated in this text.