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Case T-330/19: Judgment of the General Court of 7 December 2022 — PNB Banka v ECB (Economic and monetary policy — Prudential supervision of credit institutions — Article 22 of Directive 2013/36/EU — Opposition of the ECB to the acquisition of qualifying holdings in a credit institution — Starting point of the assessment period — Intervention by the ECB during the initial stage of the procedure — Criteria of financial stability of the proposed acquirer and compliance with prudential requirements — Existence of reasonable grounds for opposing the acquisition on the basis of one or more assessment criteria — Article 106 of the Rules of Procedure — Request for a hearing without a statement of reasons)
ECLI:EU:UNKNOWN:62019TA0330
62019TA0330
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Official Journal of the European Union
C 35/46
(Case T-330/19) (*)
(Economic and monetary policy - Prudential supervision of credit institutions - Article 22 of Directive 2013/36/EU - Opposition of the ECB to the acquisition of qualifying holdings in a credit institution - Starting point of the assessment period - Intervention by the ECB during the initial stage of the procedure - Criteria of financial stability of the proposed acquirer and compliance with prudential requirements - Existence of reasonable grounds for opposing the acquisition on the basis of one or more assessment criteria - Article 106 of the Rules of Procedure - Request for a hearing without a statement of reasons)
(2023/C 35/53)
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: European Commission (represented by: D. Triantafyllou, A. Nijenhuis and A. Steiblytė, acting as Agents)
Re:
By its action based on Article 263 TFEU, the applicant seeks annulment of the decision, notified by letter of 21 March 2019, by which the European Central Bank (ECB) decided to oppose the transaction consisting of the acquisition of qualifying holdings in B.
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);
3.Orders the European Commission to bear its own costs.
(*) Language of the case: English.
(1) OJ C 270, 12.8.2019.