Judgment of the General Court (Seventh Chamber) of 18 June 2025 –MeSoFa v SRB
(Case T‑450/22)
( 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 – Decision of the SRB not to adopt a resolution scheme – Action for annulment – Interest in bringing proceedings – Admissibility – Article 18 of Regulation (EU) No 806/2014 – Competence of the author of the act – Right to be heard – Obligation to state reasons )
1.      Action for annulment – Natural or legal persons – Interest in bringing proceedings – Need for a vested and present interest – Assessment at the time when the action was brought – Action capable of securing a benefit for the applicant – Burden of proof
(Art. 263 TFEU)
(see paragraphs 26-30)
2.      Economic and monetary policy – Economic policy – Single Resolution Mechanism for credit institutions and certain investment firms – Single Resolution Board (SRB) – Powers – Decision whether or not to adopt a resolution scheme – Obligation to adopt such a decision following the assessment by the European Central Bank (ECB) that the entity concerned is failing or is likely to fail
(European Parliament and Council Regulation No 806/2014, Art. 18(1); European Parliament and Council Directive 2014/59, Art. 82(2))
(see paragraphs 46, 47, 49, 50)
3.      Economic and monetary policy – Economic policy – Single Resolution Mechanism for credit institutions and certain investment firms – Resolution procedure – Right to be heard – Scope – Procedure conducted by the European Central Bank (ECB) and the Single Resolution Board (SRB) jointly and successively – Complex administrative procedure – Obligation for each of those two bodies to hear at each stage of the procedure the entity concerned by the decision to adopt or not adopt a resolution scheme – None
(Charter of Fundamental Rights of the European Union, Art. 41(2)(a); European Parliament and Council Regulation No 806/2014, Art. 18)
(see paragraphs 61-67, 70)
Operative part
The Court:
1.
Dismisses the action;
2.
Orders MeSoFa Vermögensverwaltungs AG, formerly Sber Vermögensverwaltungs AG, initially Sberbank Europe AG, to bear its own costs and pay those incurred by the Single Resolution Board (SRB);
3.
Orders the European Central Bank (ECB) to bear its own costs.