Article 78
Right to refuse recognition or enforcement of third-country resolution proceedings
By way of derogation from Article 77(2), the relevant national authorities may refuse to recognise or to enforce third-country resolution proceedings in any of the following cases:
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(a) |
the third-country resolution proceedings would have adverse effects on financial stability in their Member State; |
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(b) |
creditors, clearing members and, where applicable, their clients located in their Member State would not receive the same treatment as third-country creditors, clearing members and, where applicable, their clients with similar legal rights under the third-country home resolution proceedings; |
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(c) |
recognition or enforcement of the third-country resolution proceedings would have material fiscal implications for their Member State; |
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(d) |
the recognition or enforcement would be contrary to national law. |