Joined Cases T-351/18 and T-584/18: Judgment of the General Court of 6 October 2021 — Ukrselhosprom PCF and Versobank v ECB (Economic and monetary policy — Prudential supervision of credit institutions — Specific supervisory tasks assigned to the ECB — Decision to withdraw a credit institution’s authorisation — Breach of legislation on combating money laundering and the financing of terrorism — Admissibility — Powers of the national competent authorities (NCAs) of participating Member States and of the ECB under the Single Supervisory Mechanism (SSM) — Equal treatment — Proportionality — Protection of legitimate expectations — Legal certainty — Misuse of powers — Rights of the defence — Obligation to state reasons)
Date: 2021-10-06
Institutions: General Court
Subjects: EU banking union, banking supervision, credit institution, financial supervision, money laundering, principle of legal certainty, principle of proportionality, rights of the defence, terrorism financing, trade licence








C_2021490EN.01002801.xml










6.12.2021   


EN


Official Journal of the European Union


C 490/28






Judgment of the General Court of 6 October 2021 — Ukrselhosprom PCF and Versobank v ECB
(Joined Cases T-351/18 and T-584/18) (1)

(Economic and monetary policy - Prudential supervision of credit institutions - Specific supervisory tasks assigned to the ECB - Decision to withdraw a credit institution’s authorisation - Breach of legislation on combating money laundering and the financing of terrorism - Admissibility - Powers of the national competent authorities (NCAs) of participating Member States and of the ECB under the Single Supervisory Mechanism (SSM) - Equal treatment - Proportionality - Protection of legitimate expectations - Legal certainty - Misuse of powers - Rights of the defence - Obligation to state reasons)
(2021/C 490/29)
Language of the case: English

Parties


Applicants: Ukrselhosprom PCF LLC (Solone, Ukraine), Versobank AS (Tallinn, Estonia) (represented by: O. Behrends, lawyer)

Defendant: European Central Bank (represented by: C. Hernández Saseta and G. Marafioti, acting as Agents, and by B. Schneider, lawyer)

Intervener in support of the defendant: European Commission (represented by: A. Steiblytė, D. Triantafyllou and A. Nijenhuis, acting as Agents)

Re:

Application under Article 263 TFEU seeking annulment, first, of decision ECB_SSM_2018_EE_1 WHD_2017 0012 of the ECB of 26 March 2018, secondly, of decision ECB_SSM_2018_EE_2 WHD_2017 0012 of 17 July 2018, replacing decision ECB_SSM_2018_EE_1 WHD_2017 0012, by which the ECB withdrew Versobank’s authorisation to operate as a credit institution, and, thirdly, of decision ECB/SSM/2018 EE 3 of 14 August 2018 on the costs relating to the review procedure.

Operative part of the judgment

The Court:






1.


Orders that Cases T-351/18 and T-584/18 be joined for the purposes of the judgment;










2.


Declares that there is no longer any need to adjudicate on the action in Case T-351/18;










3.


Dismisses the action in Case T-584/18;










4.


Orders Ukrselhosprom PCF LLC, Versobank AS, the European Central Bank (ECB) and the European Commission each to bear their own costs in Case T-351/18;










5.


Orders Ukrselhosprom PCF and Versobank, in Case T-584/18, to bear their own costs and to pay those of the ECB;










6.


Orders the Commission to bear its own costs in Case T-584/18.






(1)  OJ C 294, 20.8.2018.