- Factors to take into account when determining whether there is a transfer of an undertaking providing investment services (Dodic v (1) Banka Koper (2) Alta Invest)
- What are the practical implications of this judgment?
- What is the relevant background?
- Background law
- Background facts
- What did the ECJ decide?
- Case details
Employment analysis: Whether there is a transfer of an undertaking providing investment services under the Acquired Rights Directive 2001/23/EC will depend upon the usual question of whether there is an economic entity which retains its identity after the transfer. In judging that issue the number of clients transferring is not decisive and it is relevant to consider the effect of domestic law and all the circumstances of the transfer, eg whether incentives were provided to clients to move their accounts, whether the clients had an express choice or not as regards the transfer of their accounts, or whether there was a default transfer of the records relating to their accounts, according to the European Court of Justice.
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