Order of the General Court (Eighth Chamber) of 6 May 2019

Data

Court: General Court

Case date: 6 mei 2019

Verdict

Order of the General Court (Eighth Chamber) of 6 May 2019 –
Bernis and Others v ECB

(Case T‑283/18)

"(Action for annulment - Economic and monetary union - Banking union - Single resolution mechanism for credit institutions and certain investment firms (SRM) - Resolution procedure applicable where an entity is failing or is likely to fail - Parent company and subsidiary - Declaration by the ECB that an entity is failing or is likely to fail - Regulation (EU) No 806/2014 - Preparatory measures - Acts not open to judicial review - Inadmissibility)"

Action for annulmentActionable measuresMeaningMeasures producing binding legal effectsPreparatory measuresNot includedAssessment by the European Central Bank determining that a credit institution is failing or likely to failInadmissibility

(Art. 263 TFEU; European Parliament and Council Regulation No 806/2014, Art. 18(1)(a))

(see paras 29-32, 34, 36, 49)

Re:

Application under Article 263 TFEU seeking annulment of the European Central Bank’s decisions of 23 February 2018 by which the latter declared that ABLV Bank AS and its subsidiary, ABLV Bank Luxembourg SA, were failing or were likely to fail within the meaning of Article 18(1) of Regulation (EU) No 806/2014 of the European Parliament and of the Council of 15 July 2014 establishing uniform rules and a uniform procedure for the resolution of credit institutions and certain investment firms in the framework of a Single Resolution Mechanism and a Single Resolution Fund and amending Regulation (EU) No 1093/2010 (OJ 2014 L 225, p. 1).

Operative part

1. The action is dismissed as inadmissible.

2. Mr Ernests Bernis, Mr Oļegs Fiļs, OF Holding SIA and Cassandra Holding Company SIA shall bear their own costs and pay those of the European Central Bank (ECB).