13 Amendments of Jonás FERNÁNDEZ related to 2016/0359(COD)
Amendment 115 #
Proposal for a directive
Recital 43
Recital 43
(43) The stability of financial markets relies heavily on financial collateral arrangements, in particular, when security collateral is provided in connection with participation in designated systems or in central bank operations and when margins are provided to central counterparties (CCPs). As the value of financial instruments given as security may be very volatile, it is crucial to realize their value quickly before its goes down. Therefore, this Directive should be without prejudice to provisions of Directive 98/26/EC of the European Parliament and of the Council of 19 May 199874 , Directive 2002/47/EC of the European Parliament and of the Council75 and Regulation (EU) No 648/201276 should prevail over this Directive. _________________ 74 Directive 98/26/EC of the European Parliament and of the Council of 19 May 1998 on settlement finality in payment and securities settlement systems (OJ L 166/45, 11.6.1998). 75 Directive 2002/47/EC of the European Parliament and of the Council of 6 June 2012 on financial collateral arrangements (OJ L 168/43, 27.6.2002). 76 Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories, (OJ L 201/1, 27.7.2012, p.1).
Amendment 118 #
Proposal for a directive
Article 1 – paragraph 1 – point a
Article 1 – paragraph 1 – point a
(a) preventive restructuring procedures available for debtors in financial difficulty when there is a likelihood of insolvency. By means of delegated acts, the Commission shall further specify what constitutes a "likelihood of insolvency";
Amendment 130 #
Proposal for a directive
Article 2 – paragraph 1 – point 5
Article 2 – paragraph 1 – point 5
(5) 'executory contracts' means contracts between the debtor and one or more creditors under which both sidesat least one party still haves obligations to perform at the moment the stay of individual enforcement actions is ordered;
Amendment 133 #
Proposal for a directive
Article 2 – paragraph 1 – point 11
Article 2 – paragraph 1 – point 11
(11) 'new financing' means any new funds, whether provided by an existing or a new creditor, that are necessary to implement a restructuring plan that are agreed upon in that restructuring plan and confirmed subsequently by a judicial or administrative authority;.
Amendment 231 #
Proposal for a directive
Article 9 – paragraph 6
Article 9 – paragraph 6
6. Where the necessary majority is not reached in one or more dissenting voting classes, the plan may still be confirmed by a judicial or administrative authority if it complies with the cross-class cram-down requirements set out in Article 11.
Amendment 233 #
Proposal for a directive
Article 10 – paragraph 1 – introductory part
Article 10 – paragraph 1 – introductory part
1. Member States shall ensure that the following restructuring plans which affect the interests of dissenting affected parties can become binding on the parties only if they are confirmed by a judicial or administrative authority:.
Amendment 235 #
Proposal for a directive
Article 10 – paragraph 1 – point a
Article 10 – paragraph 1 – point a
Amendment 236 #
Proposal for a directive
Article 10 – paragraph 1 – point b
Article 10 – paragraph 1 – point b
Amendment 238 #
Proposal for a directive
Article 10 – paragraph 2 – point c
Article 10 – paragraph 2 – point c
Amendment 243 #
Proposal for a directive
Article 11 – paragraph 1 – point a
Article 11 – paragraph 1 – point a
(a) fulfils the conditions in Article 10(2) and does not run counter to Article 10(3);
Amendment 254 #
Proposal for a directive
Article 14 – paragraph 2
Article 14 – paragraph 2
2. Creditors who are not involvdentified in the adoption of a restructuring plan confirmed by a judicial or administrative authority shall not be affected by the plan.
Amendment 257 #
Proposal for a directive
Article 15 – paragraph 4 – point b
Article 15 – paragraph 4 – point b
(b) confirm the plan and grant monetary compensation to the dissenting creditors, payable by the debtor or by the creditors who voted in favour of the plan.
Amendment 294 #
Proposal for a directive
Article 31 – paragraph 1 – introductory part
Article 31 – paragraph 1 – introductory part
1. This Directive shall be without prejudice to the following actse provisions of the following acts shall prevail over this Directive: