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Case T-527/22: Order of the General Court of 10 October 2023 — Sberbank v SRB (Action for annulment — Economic and monetary union — Banking union — Single Resolution Mechanism for credit institutions and certain investment firms (SRM) — Resolution procedure applicable where an entity is failing or is likely to fail — Decision of the SRB not to adopt a resolution scheme — Shareholders — Lack of direct concern — Inadmissibility)
ECLI:EU:UNKNOWN:62022TB0527
62022TB0527
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Official Journal of the European Union
Series C
C/2024/477
(Case T-527/22) (<span class="oj-super oj-note-tag">1</span>)
(Action for annulment - Economic and monetary union - Banking union - Single Resolution Mechanism for credit institutions and certain investment firms (SRM) - Resolution procedure applicable where an entity is failing or is likely to fail - Decision of the SRB not to adopt a resolution scheme - Shareholders - Lack of direct concern - Inadmissibility)
(C/2024/477)
Language of the case: English
Parties
Applicant: Sberbank of Russia PAO (Moscow, Russia) (represented by: D. Rovetta, M. Campa, M. Pirovano, M. Moretto and V. Villante, lawyers)
Defendant: Single Resolution Board (SRB) (represented by: K.-P. Wojcik, H. Ehlers, J. Rius Riu and L. Forestier, acting as Agents, and by B. Meyring, S. Schelo and S. Ianc, lawyers)
Re:
By its action on the basis of Article 263 TFEU, the applicant seeks annulment (i) of Decision SRB/EES/2022/19 of the Single Resolution Board (SRB) of 1 March 2022 not to adopt a resolution scheme in respect of Sberbank Europe AG, within the meaning of Article 18(1) of 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), and (ii) of Valuation Report 1 in respect of Sberbank Europe AG of 27 February 2022, drawn up by the SRB.
Operative part of the order
1.The action is dismissed as inadmissible.
2.There is no need to rule on the application to intervene made by the European Central Bank (ECB).
3.Sberbank of Russia PAO shall bear its own costs and pay those incurred by the Single Resolution Board (SRB), with the exception of those relating to the application to intervene.
4.Sberbank of Russia, the SRB and the ECB shall each bear their own costs relating to the application to intervene.
(<span class="oj-super">1</span>) OJ C 441, 21.11.2022.
ELI: http://data.europa.eu/eli/C/2024/477/oj
ISSN 1977-091X (electronic edition)