Reports of Cases before the Court of Justice and the Court of First Instance V. 2019-04

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2019-04 Reports of Cases before the Court of Justice and the Court of First Instance 1 (2019)

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VRw Reports of Cases

OPINION OF ADVOCATE GENERAL
KOKOTT
delivered on 11 April 2019'

Joined Cases C-663/17 P, C-665/17 P and C-669/17 P

European Central Bank
v
Trasta Komercbanka AS,
Ivan Fursin and Others (C-663/17 P)
and
European Commission
v
Trasta Komercbanka AS,
Ivan Fursin and Others (C-665/17 P)
and
Trasta Komercbanka AS,
Ivan Fursin and Others
v

European Central Bank (C-669/17 P)

(Appeal - Action for annulment - Plea of inadmissibility - Regulation No 1024/2013/EU -
Prudential supervision of credit institutions - Withdrawal of a credit institution's authorisation by the
European Central Bank - Automatic liquidation of the credit institution concerned under national
law - Legal standing of the credit institution in liquidation, represented by the former board of
directors - Legal standing of shareholders)

I. Introduction

1. Embedded in the substantive context of banking supervision law, these three appeals, which concern
the admissibility of actions brought by a Latvian bank and its shareholders against the withdrawal of a
banking licence (authorisation)2 by the European Central Bank (ECB), raise fundamental questions
regarding the EU system of legal remedies.

2. In Latvian law the withdrawal of a banking licence results immediately and incontestably in the bank
concerned being wound up. For this reason, the action brought by Trasta Komercbanka (TKB) against
the withdrawal of its licence was dismissed as inadmissible by the General Court in accordance with a
plea to that effect raised by the ECB. The General Court considered that, as a consequence of the

1 Original language: German.
2 Authorisation is the term used in Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central
Bank concerning policies relating to the prudential supervision of credit institutions (OJ 2013 L 287, p. 63), which is relevant in this regard.

ECLJ:EU:C:2019:3231

1