About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

2019-04 Reports of Cases before the Court of Justice and the Court of First Instance 1 (2019)

handle is hein.intyb/rcbjcofi0414 and id is 1 raw text is: VRw Reports of Cases OPINION OF ADVOCATE GENERAL KOKOTT delivered on 11 April 2019' Joined Cases C-663/17 P, C-665/17 P and C-669/17 P European Central Bank v Trasta Komercbanka AS, Ivan Fursin and Others (C-663/17 P) and European Commission v Trasta Komercbanka AS, Ivan Fursin and Others (C-665/17 P) and Trasta Komercbanka AS, Ivan Fursin and Others v European Central Bank (C-669/17 P) (Appeal - Action for annulment - Plea of inadmissibility - Regulation No 1024/2013/EU - Prudential supervision of credit institutions - Withdrawal of a credit institution's authorisation by the European Central Bank - Automatic liquidation of the credit institution concerned under national law - Legal standing of the credit institution in liquidation, represented by the former board of directors - Legal standing of shareholders) I. Introduction 1. Embedded in the substantive context of banking supervision law, these three appeals, which concern the admissibility of actions brought by a Latvian bank and its shareholders against the withdrawal of a banking licence (authorisation)2 by the European Central Bank (ECB), raise fundamental questions regarding the EU system of legal remedies. 2. In Latvian law the withdrawal of a banking licence results immediately and incontestably in the bank concerned being wound up. For this reason, the action brought by Trasta Komercbanka (TKB) against the withdrawal of its licence was dismissed as inadmissible by the General Court in accordance with a plea to that effect raised by the ECB. The General Court considered that, as a consequence of the 1 Original language: German. 2 Authorisation is the term used in Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions (OJ 2013 L 287, p. 63), which is relevant in this regard. ECLJ:EU:C:2019:3231 1

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most