There is a strong case for simplifying these structures that are often developed to evade taxes, indulge in regulatory arbitrage and to strip assets of the firm for personal use. In recent period, we have come across instances where corporate debt restructuring is sought but ownership commitment of those who have control is rather left weak.
The second positive is that Council approach on BRRD contains a depositor preference rule which puts some types of deposits at the end of the resolution pecking order and exempts insured deposits from bail-in.