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Case T-230/20: Judgment of the General Court of 7 December 2022 — PNB Banka v ECB (Economic and monetary policy — Prudential supervision of credit institutions — Regulation (EU) No 1024/2013 — Specific supervisory tasks assigned to the ECB — Decision to withdraw the authorisation of the credit institution PNB Banka — Proposal of the national competent authority to withdraw authorisation — Insolvency decision in respect of PNB Banka — Reasonable time — Obligation to state reasons — Proportionality)
ECLI:EU:UNKNOWN:62020TA0230
62020TA0230
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Official Journal of the European Union
C 35/47
(Case T-230/20) (*)
(Economic and monetary policy - Prudential supervision of credit institutions - Regulation (EU) No 1024/2013 - Specific supervisory tasks assigned to the ECB - Decision to withdraw the authorisation of the credit institution PNB Banka - Proposal of the national competent authority to withdraw authorisation - Insolvency decision in respect of PNB Banka - Reasonable time - Obligation to state reasons - Proportionality)
(2023/C 35/54)
Language of the case: English
Parties
Applicant: PNB Banka AS (Riga, Latvia) (represented by: O. Behrends, lawyer)
Defendant: European Central Bank (represented by: C. Hernández Saseta, F. Bonnard and V. Hümpfner, acting as Agents)
Intervener in support of the defendant: Republic of Latvia (represented by: K. Pommere, J. Davidoviča and E. Bārdiņš, acting as Agents)
Re:
By its action based on Article 263 TFEU, the applicant seeks annulment of the decision of the European Central Bank (ECB) of 17 February 2020, ECB-SSM-220-LVPNB-1, WHD-2019-0016, withdrawing its authorisation as a credit institution.
Operative part of the judgment
The Court:
1.Dismisses the action;
2.Orders PNB Banka AS to bear its own costs and to pay those incurred by the European Central Bank (ECB), including those incurred in the proceedings for interim relief;
3.Orders the Republic of Latvia to bear its own costs.
(*) Language of the case: English.
(1) OJ C 209, 22.6.2020.