Article 288 Set-off

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Directive 2009/138/EC - Insurance and Reinsurance Directive (recast) (Solvency II)
Title IV Reorganisation and Winding-up of Insurance Undertakings (arts. 267-296)
Chapter IV Common provisions (arts. 285-296)
Article 288 Set-off

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Version status: Applicable | Document consolidation status: Updated to reflect all known changes

Version date: 1 January 2016 - onwards

Version 3 of 3

1. The opening of reorganisation measures or winding-up proceedings shall not affect the right of creditors to demand the set-off of their claims against the claims of the insurance undertaking, where such a set-off is permitted by the law applicable to the claim of the insurance undertaking.

2. Paragraph 1 shall not preclude actions for nullity, voidability or unenforceability referred to in Article 274(2)(l).

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