Official Journal of the European Union

EN

C series

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C/2024/6104

21.10.2024

(Case T-434/24)

(C/2024/6104)

Language of the case: English

Parties

Applicant: PNB Banka AS (Riga, Latvia) (represented by: O. Behrends, lawyer)

Defendants: European Central Bank, Single Resolution Board

Form of order sought

The Applicant claims that the Court should:

—declare that the Defendants are jointly and severally liable for the damage caused to the Applicant as a result of the Defendants’ failure to comply with its obligations with respect to the representation of the Applicant and its rights of defence,

—order the Defendants jointly and severally to compensate the Applicant for such damage,

—declare that the Defendants are jointly and severally liable for the damage caused to the Applicant as a result of the forced discontinuation and liquidation of its business as a result of the unlawful acts and omissions of the Defendants,

—order the Defendants jointly and severally to compensate the Applicant for such damage,

—order the Defendants to bear the cost of the Applicant.

Pleas in law and main arguments

In support of the action, the Applicant relies on three pleas in law.

1.First plea in law, alleging that the Defendants exceeded their competences by purporting to act pursuant to Article 18 SRMR by publicly announcing the liquidation of the Applicant. The Defendants continue to violate the Applicant’s rights pursuant to Article 41, 47 and 51 of the Charter of Fundamental Rights of the European Union by failing to use their influence to support an effective representation of the Applicant. The Defendants violated their obligation to avoid any harmful public statement and avoid any statement that misrepresents the powers of the Defendants.

2.Second plea in law, alleging that the damage sustained by the Applicant is twofold. The primary damage consists in the Applicant’s inability to exercise its rights effectively due to a lack of an effective representation based on a breach of the Defendant’s obligations. Further considerable damage was caused by the unlawful closure and elimination of the Bank’s business. This further damage, however, must be examined once the effective representation of the Bank is restored.

3.Third plea in law, alleging that there is a direct causal link between the Defendants’ wrongdoing and the damage sustained by the Applicant in relation to the lack of an effective representation. There is also a direct causal link between the Defendants’ illegal announcements on 15 August 2019 and the subsequent opening of insolvency proceedings.

ELI: http://data.europa.eu/eli/C/2024/6104/oj

ISSN 1977-091X (electronic edition)

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