August 03
2021
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Dolores Utrilla
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6th May 2021
Banking & Finance Internal Market Justice & Litigation

ECB’s assessments within the SSM on whether a credit institution is ‘failing or likely to fail’ can not be subject to direct judicial review, Court of Justice rules

The Court of Justice has just handed down its judgment in ABLV Bank v BCE and Bernis and Others v BCE (joined cases C-551/19 P and C-552/19 P), ruling that the ECB’s assessments on whether a credit institution is ‘failing or likely to fail’ in the framework of the Single Supervisory Mechanism (SSM) are merely preparatory measures adopted in the course of the procedure intended to permit the Single Resolution Board (SRB) to adopt a decision on the resolution of the affected banking institutions, and can not therefore be the subject of a direct action for annulment.

The case concerns the appeals against the General Court orders in T-281/18 and T-283/18, which dismissed as inadmissible an action for annulment against an ECB decision

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