European Law

QUESTION: 1. Matthew is a UK citizen employed by Mega Bank in" rel="nofollow">in" rel="nofollow">in" rel="nofollow">in Germany as an associate analyst, with a gross salary of €200,000/year. European Union Directive 2012/65 on the bankin" rel="nofollow">in" rel="nofollow">in" rel="nofollow">ing sector in" rel="nofollow">in" rel="nofollow">in" rel="nofollow">includes a provision requirin" rel="nofollow">in" rel="nofollow">in" rel="nofollow">ing Member States to create a compensation mechanism for bankin" rel="nofollow">in" rel="nofollow">in" rel="nofollow">ing in" rel="nofollow">in" rel="nofollow">in" rel="nofollow">industry workers in" rel="nofollow">in" rel="nofollow">in" rel="nofollow">in case their employer goes bankrupt. The Directive explicitly covers outstandin" rel="nofollow">in" rel="nofollow">in" rel="nofollow">ing wages owed to employees and was to be transposed by all Member States by 31/12/2014. Germany has not done so to date. After a disastrous merger with a competitor in" rel="nofollow">in" rel="nofollow">in" rel="nofollow">in 2015, Mega Bank filed for bankruptcy in" rel="nofollow">in" rel="nofollow">in" rel="nofollow">in September 2016. Followin" rel="nofollow">in" rel="nofollow">in" rel="nofollow">ing the bankruptcy of Mega Bank, Matthew was left without a job and owed 6 months wages worth €100,000, plus a possible €1,000,000 bonus for his performance in" rel="nofollow">in" rel="nofollow">in" rel="nofollow">in 2015. Matthew wants to claim the outstandin" rel="nofollow">in" rel="nofollow">in" rel="nofollow">ing wages from Mega Bank but the current German bankruptcy laws forbids him from doin" rel="nofollow">in" rel="nofollow">in" rel="nofollow">ing so, because only employees with a gross salary below €50,000/year can claim for any compensation for outstandin" rel="nofollow">in" rel="nofollow">in" rel="nofollow">ing wages. Advise Matthew of the possibility of enforcin" rel="nofollow">in" rel="nofollow">in" rel="nofollow">ing his rights under the EU Directive 2012/65 through direct effect or in" rel="nofollow">in" rel="nofollow">in" rel="nofollow">indirect effect