Case T-419/24: Action brought on 13 August 2024 – Hypo Vorarlberg Bank v SRB
Date: 2024-08-13
Institutions: General Court
Subjects: EU banking union, bank, bank resolution, company in difficulties, financing method, financing plan, principle of legal certainty, principle of proportionality








C_202405648EN.000101.fmx.xml












Official Journal of the European Union


EN
C series













C/2024/5648


30.9.2024






Action brought on 13 August 2024 – Hypo Vorarlberg Bank v SRB


(Case T-419/24)

(C/2024/5648)
Language of the case: German

Parties


Applicant: Hypo Vorarlberg Bank AG (Bregenz, Austria) (represented by: G. Eisenberger, A. Brenneis and J. Holzmann, lawyers)

Defendant: Single Resolution Board (SRB)

Form of order sought

The applicant claims that the Court should:






—


annul, with immediate effect, and, in any event, in so far as it concerns the applicant, the decision of the Single Resolution Board of 11 June 2024 on the re-adoption of the decision on the calculation of the 2021 ex-ante contributions to the Single Resolution Fund concerning the institutions mentioned in Annex I to that decision (SRB/ES/2024/20), including its annexes, and










—


order the Single Resolution Board to pay the costs.





Pleas in law and main arguments

In support of the action, the applicant relies on five pleas in law.






1.


First plea in law, alleging infringement of Article 69(2) and Article 70(2) of Regulation (EU) No 806/2014 (1) and of Article 4(2) of Delegated Regulation (EU) 2015/63 (2) on account of incorrect setting of the annual target level, on the ground that the defendant set, contrary to those provisions, an annual target level that was too high.










2.


Second plea in law, alleging infringement of Article 6(5) and (7) and Article 7(4) of, and of Annex I, Step 2, to, Delegated Regulation (EU) 2015/63, on the ground that the defendant misapplied and incorrectly weighted the risk indicator ‘Membership in an Institutional Protection Scheme’ (IPS), contrary to those provisions.










3.


Third plea in law, alleging infringement of essential procedural requirements, on the ground that the contested decision was adopted without stating adequate reasons, contrary to the second paragraph of Article 296 TFEU and to Article 41(1) and Article 41(2)(c) of the Charter of Fundamental Rights of the European Union. (3)











4.


Fourth plea in law, alleging that Implementing Regulation (EU) 2015/81 (4) is unlawful as the basis for the contested decision, since neither Implementing Regulation (EU) 2015/81 nor the legal basis in Article 70(7) of Regulation (EU) No 806/2014 state reasons in accordance with the second paragraph of Article 296 TFEU, and Article 8 of Implementing Regulation (EU) 2015/81 exceeds the limits drawn by Article 70(7) of Regulation (EU) No 806/2014, read in conjunction with Article 291 TFEU.










5.


Fifth plea in law, alleging, in the alternative, that Article 69(1) and (2) and Article 70(2) of Regulation (EU) No 806/2014 as well as Article 102(1) and (2) of Directive 2014/59/EU (5) are unlawful as the basis for Delegated Regulation (EU) 2015/63, Implementing Regulation (EU) 2015/81 and the contested decision, on the ground that those provisions are contrary to the Charter of Fundamental Rights of the European Union (in particular Articles 16, 17, 41 and 47 thereof), to the principle of legal certainty, to the obligation that the reasons on which an act is based must be stated, and to the principle of proportionality.






(1)  Regulation (EU) No 806/2014 of the European Parliament and of the Council of 15 July 2014 establishing uniform rules and a uniform procedure for the resolution of credit institutions and certain investment firms in the framework of a Single Resolution Mechanism and a Single Resolution Fund and amending Regulation (EU) No 1093/2010 (OJ 2014 L 225, p. 1).

(2)  Commission Delegated Regulation (EU) 2015/63 of 21 October 2014 supplementing Directive 2014/59/EU of the European Parliament and of the Council with regard to ex ante contributions to resolution financing arrangements (OJ 2015 L 11, p. 44).

(3)  
            OJ 2012 C 326, p. 391.

(4)  Council Implementing Regulation (EU) 2015/81 of 19 December 2014 specifying uniform conditions of application of Regulation (EU) No 806/2014 of the European Parliament and of the Council with regard to ex ante contributions to the Single Resolution Fund (OJ 2015 L 15, p. 1).

(5)  Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012, of the European Parliament and of the Council (OJ 2014 L 173, p. 190).


ELI: http://data.europa.eu/eli/C/2024/5648/oj
ISSN 1977-091X (electronic edition)