May 11
2021
Dolores Utrilla
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3rd May 2021
Banking & Finance Internal Market Justice & Litigation

Action for damages brought against the ECB on account of its supervisory actions over Banca Carige S.p.A.

An application under Articles 268 and 340 TFEU (T-134/21) has been brought before the General Court by Malacalza Investimenti Srl and Vittorio Malacalza (Genoa, Italy) against the European Central Bank (ECB). The applicants seek compensation for harm allegedly suffered as a result of various actions of the ECB relating to the exercise of its supervisory functions over Banca Carige S.p.A. (Carige) and consisting both of failures to act when it should have done so and harmful actions. Vittorio Malacalza is the former manager and Vice-President of Carige.

Overall, the applicants claim that the ECB’s conduct and measures conflict, in several aspects, with the duties inherent to its supervisory functions, including in respect of the sa

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