Order of the General Court (First Chamber) of 21 July 2022 –

Fersher Developments and Lisin v Commission and ECB

(Case T‑200/18) ( 1 )

(Action for damages – Economic and monetary policy – Stability support programme for Cyprus – Memorandum of Understanding of 26 April 2013 on Specific Economic Policy Conditionality concluded between Cyprus and the European Stability Mechanism – Jurisdiction of the General Court – Sufficiently serious breach of a rule of law conferring rights on individuals – Equal treatment – Principle of proportionality – Action manifestly lacking any foundation in law)

1. Judicial proceedings – Application initiating proceedings – Formal requirements – Identification of the subject matter of the dispute – Summary of the pleas in law on which the application is based – Application for compensation for damage allegedly caused by an EU institution – Factors enabling identification of the conduct of which the institution is accused, the causal link and the reality and certainty of the damage caused (Statute of the Court of Justice, Art. 21, first para.; Rules of Procedure of the General Court, Art. 76(d)) (see paras 31, 34)

2. Economic and monetary policy – Economic policy – Coordination of economic policies – European Stability Mechanism – Allocation of new tasks to the Commission and the European Central Bank – No effect on the powers conferred by the EU and FEU Treaties on those institutions – Ability to plead in an action for damages that those tasks have been carried out unlawfully (Art. 17(1) TEU; Art. 268 TFEU; Treaty establishing the European Stability Mechanism, Art. 13(3) and (4)) (see paras 43-45)

3. Actions for damages – Subject matter – Application for compensation for damage caused by the Commission or by the European Central Bank in carrying out the tasks imposed by the Treaty establishing the European Stability Mechanism – Admissibility (Arts 268 and 340, second para., TFEU) (see paras 49, 51)

4. Non-contractual liability – Conditions – Unlawfulness – Damage – Causal link – One of the conditions not satisfied – Action for damages dismissed in its entirety (Art. 340, second and third paras, TFEU) (see para. 52)

5. EU law – Principles – Equal treatment – Definition – Burden of proof (Charter of Fundamental Rights of the European Union, Arts 20 and 21) (see paras 58, 71)

6. Economic and monetary policy – Economic policy – Coordination of economic policies – European Stability Mechanism – Conclusion of a memorandum of understanding providing for the restructuring of two national banks – Conclusion of a memorandum of understanding providing for the conversion of uninsured deposits in a domestic bank into shares and for the temporary freezing of other uninsured deposits in that bank – Imposition of measures involving the contribution of depositors to the restructuring of the banks concerned – Infringement of the principles of equal treatment and proportionality – None (Treaty establishing the European Stability Mechanism; Memorandum of Understanding of 26 April 2013) (see paras 72, 74-76, 80, 83, 84, 87-89, 92-94)

Operative part

1. The action is dismissed.

2. Fersher Developments LTD and Mr Vladimir Lisin shall pay the costs.

( 1 ) OJ C 211, 18.6.2018.