Case T-387/21: Judgment of the General Court of 20 December 2023 — Société générale and Others v SRB (Economic and monetary union — Banking union — Single resolution mechanism for credit institutions and certain investment firms (SRM) — Single Resolution Fund (SRF) — Decision of the SRB on the calculation of the 2021 ex ante contributions — Duty to state reasons — Principle of good administration — Principle of effective judicial protection — Plea of illegality — Limitation of the temporal effects of the judgment)
Date: 2023-12-20
Institutions: General Court
Subjects: EU banking union, bank, company in difficulties, financing plan, fund (EU), right to an effective remedy








C_202401855EN.000101.fmx.xml












Official Journal of the European Union


EN
Series C













C/2024/1855


11.3.2024





Judgment of the General Court of 20 December 2023 — Société générale and Others v SRB
(Case T-387/21) (1)

(Economic and monetary union - Banking union - Single resolution mechanism for credit institutions and certain investment firms (SRM) - Single Resolution Fund (SRF) - Decision of the SRB on the calculation of the 2021 ex ante contributions - Duty to state reasons - Principle of good administration - Principle of effective judicial protection - Plea of illegality - Limitation of the temporal effects of the judgment)
(C/2024/1855)
Language of the case: French

Parties


Applicants: Société générale (Paris, France), Crédit du Nord (Lille, France), SG Option Europe (Puteaux, France) (represented by: A. Gosset-Grainville and M. Trabucchi, lawyers)

Defendant: Single Resolution Board (represented by: J. Kerlin, C. De Falco and C. Flynn, acting as Agents, and by H.-G. Kamann, F. Louis, P. Gey and V. Del Pozo Espinosa de los Monteros, lawyers)

Interveners in support of the defendant: European Parliament (represented by: J. Etienne, O. Denkov and M. Menegatti, acting as Agents), Council of the European Union (represented by: E. d’Ursel, A. Westerhof Löfflerová and J. Bauerschmidt, acting as Agents), European Commission (represented by: D. Triantafyllou, A. Nijenhuis and A. Steiblytė, acting as Agents)

Re:

By their actions under Article 263 TFEU, the applicants seek the annulment of Decision SRB/ES/2021/22 of the Single Resolution Board (SRB) of 14 April 2021 on the calculation of the 2021 ex ante contributions to the Single Resolution Fund, in so far as that decision concerns them.

Operative part of the judgment

The Court:






1.


Annuls Decision SRB/ES/2021/22 of the Single Resolution Board (SRB) of 14 April 2021 on the calculation of the 2021 ex ante contributions to the Single Resolution Fund, in so far as it concerns Société générale, Crédit du Nord and SG Option Europe;










2.


Maintains the effects of Decision SRB/ES/2021/22, in so far as it concerns Société générale, Crédit du Nord and SG Option Europe until the entry into force, within a reasonable period which cannot exceed six months from the date of delivery of the present judgment, of a new decision of the SRB fixing those institutions’ ex ante contribution to the Single Resolution Fund for the 2021 contribution period;










3.


Orders the SRB to bear its own costs and to pay those incurred by Société générale, Crédit du Nord and SG Option Europe;










4.


Orders the European Parliament, the Council of the European Union and the European Commission to bear their own costs.






(1)  
            OJ C 338, 23.8.2021.


ELI: http://data.europa.eu/eli/C/2024/1855/oj
ISSN 1977-091X (electronic edition)