# C_2020010EN.01005601.xml

| 13.1.2020 | EN | Official Journal of the European Union | C 10/56 |
| --- | --- | --- | --- |

13.1.2020

EN

Official Journal of the European Union

C 10/56

---

Action brought on 19 November 2019 — Anglo Austrian AAB Bank and Belegging-Maatschappij ‘Far-East’ v ECB

(Case T-797/19)

(2020/C 10/66)

Language of the case: German

Parties

Applicants: Anglo Austrian AAB Bank AG (Vienna, Austria) and Belegging-Maatschappij ‘Far-East’ BV (Velp, Netherlands) (represented by: M. Fischer, J. Willheim and M. Ketzer, lawyers)

Defendant: European Central Bank

Form of order sought

The applicants claim that the Court should:

| — | annul the defendant’s decision of 14 November 2019, by which Anglo Austrian AAB Bank AG’s authorisation as a credit institution was withdrawn; |
| --- | --- |

—

annul the defendant’s decision of 14 November 2019, by which Anglo Austrian AAB Bank AG’s authorisation as a credit institution was withdrawn;

| — | order the defendant to pay the costs of the proceedings; |
| --- | --- |

—

order the defendant to pay the costs of the proceedings;

| — | in the light of the circumstances of the present case, give the case priority pursuant to Article 67(2) of the Rules of Procedure of the General Court. |
| --- | --- |

—

in the light of the circumstances of the present case, give the case priority pursuant to Article 67(2) of the Rules of Procedure of the General Court.

Pleas in law and main arguments

In support of the action, the applicants rely on the following pleas in law.

| 1. | The defendant infringed Article 14(5) of Council Regulation (EU) No 1024/2013, (1) in so far as it incorrectly applied the national law applicable to the withdrawal of authorisation under Article 4(3) of that regulation. |
| --- | --- |

1.

The defendant infringed Article 14(5) of Council Regulation (EU) No 1024/2013, (1) in so far as it incorrectly applied the national law applicable to the withdrawal of authorisation under Article 4(3) of that regulation.

| 2. | The defendant infringed the principle of proportionality, in so far as, by withdrawing authorisation, it unlawfully used the last resort out of the possible means of supervision. |
| --- | --- |

2.

The defendant infringed the principle of proportionality, in so far as, by withdrawing authorisation, it unlawfully used the last resort out of the possible means of supervision.

| 3. | The defendant violated Anglo Austrian AAB Bank AG’s right to an effective remedy, in so far as it did not suspend operation of the decision. |
| --- | --- |

3.

The defendant violated Anglo Austrian AAB Bank AG’s right to an effective remedy, in so far as it did not suspend operation of the decision.

| 4. | The defendant infringed Article 41 of the Charter of Fundamental Rights of the European Union, Articles 31 and 32 of Regulation (EU) No 1024/2013, Paragraph 70(4) of the Bankwesengesetz (Law on banking) and Article 6 of the European Convention on Human Rights, in so far as it failed to respect Anglo Austrian AAB Bank AG’s procedural rights guaranteed therein. |
| --- | --- |

4.

The defendant infringed Article 41 of the Charter of Fundamental Rights of the European Union, Articles 31 and 32 of Regulation (EU) No 1024/2013, Paragraph 70(4) of the Bankwesengesetz (Law on banking) and Article 6 of the European Convention on Human Rights, in so far as it failed to respect Anglo Austrian AAB Bank AG’s procedural rights guaranteed therein.

| 5. | The defendant violated Belegging-Maatschappij ‘Far-East’ B.V.‘s right to property, in so far as it withdrew Anglo Austrian AAB Bank AG’s authorisation and thereby destroyed the economic value of the shares in Anglo Austrian AAB Bank AG held by Belegging-Maatschappij ‘Far-East’ B.V. |
| --- | --- |

5.

The defendant violated Belegging-Maatschappij ‘Far-East’ B.V.‘s right to property, in so far as it withdrew Anglo Austrian AAB Bank AG’s authorisation and thereby destroyed the economic value of the shares in Anglo Austrian AAB Bank AG held by Belegging-Maatschappij ‘Far-East’ B.V.

---

(1)  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).

---