December 02
2021
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Trajan Shipley
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14th October 2021
Banking & Finance

Court of Justice quashes General Court judgment on purely confirmatory decisions calculating SRF ex ante contributions

The Court of Justice delivered its judgment in NRW. Bank v SRB (C-662/19 P), reversing the General Court’s findings in NRW. Bank v SRB (T-466/16), where it dismissed as inadmissible an annulment action against two decisions of the Single Resolution Board on the 2016 ex-ante contributions to the Single Resolution Fund and its adjustment.

By its appeal, the appellant contended that the second contested decision replaced the first contested decision and, in the alternative, that the modification of the first contested decision resulting from the second one restarted the time limit for bringing an action in respect of the second contested decision and of the substantive issue raised in the action. The General Court had ruled that the

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