Article 57 Safeguard for shareholders, policy holders, beneficiaries, claimants or other creditors

Article 57

Member States shall ensure that, where the valuation carried out under Article 56 determines that any shareholder, policy holder, beneficiary, claimant or other creditor referred to in Article 55 or, where relevant, the insurance guarantee scheme in accordance with the applicable national law, has incurred greater losses than it would have incurred in a winding-up under normal insolvency proceedings, it is entitled to payment of the difference.