This document is an excerpt from the EUR-Lex website
Document 62019CA0934
Case C-934/19 P: Judgment of the Court (Third Chamber) of 21 December 2021 — Algebris (UK) Ltd, Anchorage Capital Group LLC v Single Resolution Board (SRB) (Appeal — Economic and monetary union — Banking union — Recovery and resolution of credit institutions and investment firms — Single resolution mechanism for credit institutions and certain investment firms (SRM) — Single Resolution Board (SRB) — Resolution procedure applicable where an entity is failing or is likely to fail — Adoption of a resolution scheme in respect of Banco Popular Español SA — Sale of business tool — Write-down and conversion of capital instruments — Regulation (EU) No 806/2014 — Article 20 — Concept of ‘definitive valuation’ — Consequences — Refusal or failure to proceed with an ex post definitive valuation — Remedies — Action for annulment)
Case C-934/19 P: Judgment of the Court (Third Chamber) of 21 December 2021 — Algebris (UK) Ltd, Anchorage Capital Group LLC v Single Resolution Board (SRB) (Appeal — Economic and monetary union — Banking union — Recovery and resolution of credit institutions and investment firms — Single resolution mechanism for credit institutions and certain investment firms (SRM) — Single Resolution Board (SRB) — Resolution procedure applicable where an entity is failing or is likely to fail — Adoption of a resolution scheme in respect of Banco Popular Español SA — Sale of business tool — Write-down and conversion of capital instruments — Regulation (EU) No 806/2014 — Article 20 — Concept of ‘definitive valuation’ — Consequences — Refusal or failure to proceed with an ex post definitive valuation — Remedies — Action for annulment)
Case C-934/19 P: Judgment of the Court (Third Chamber) of 21 December 2021 — Algebris (UK) Ltd, Anchorage Capital Group LLC v Single Resolution Board (SRB) (Appeal — Economic and monetary union — Banking union — Recovery and resolution of credit institutions and investment firms — Single resolution mechanism for credit institutions and certain investment firms (SRM) — Single Resolution Board (SRB) — Resolution procedure applicable where an entity is failing or is likely to fail — Adoption of a resolution scheme in respect of Banco Popular Español SA — Sale of business tool — Write-down and conversion of capital instruments — Regulation (EU) No 806/2014 — Article 20 — Concept of ‘definitive valuation’ — Consequences — Refusal or failure to proceed with an ex post definitive valuation — Remedies — Action for annulment)
OJ C 84, 21.2.2022, p. 7–7
(BG, ES, CS, DA, DE, ET, EL, EN, FR, HR, IT, LV, LT, HU, MT, NL, PL, PT, RO, SK, SL, FI, SV)
OJ C 84, 21.2.2022, p. 4–4
(GA)
|
21.2.2022 |
EN |
Official Journal of the European Union |
C 84/7 |
Judgment of the Court (Third Chamber) of 21 December 2021 — Algebris (UK) Ltd, Anchorage Capital Group LLC v Single Resolution Board (SRB)
(Case C-934/19 P) (1)
(Appeal - Economic and monetary union - Banking union - Recovery and resolution of credit institutions and investment firms - Single resolution mechanism for credit institutions and certain investment firms (SRM) - Single Resolution Board (SRB) - Resolution procedure applicable where an entity is failing or is likely to fail - Adoption of a resolution scheme in respect of Banco Popular Español SA - Sale of business tool - Write-down and conversion of capital instruments - Regulation (EU) No 806/2014 - Article 20 - Concept of ‘definitive valuation’ - Consequences - Refusal or failure to proceed with an ex post definitive valuation - Remedies - Action for annulment)
(2022/C 84/08)
Language of the case: English
Parties
Appellants: Algebris (UK) Ltd, Anchorage Capital Group LLC (represented by: T. Soames, avocat, R. East, Solicitor, N. Chesaites, advocaat, and D. Mackersie, Barrister)
Other party to the proceedings: Single Resolution Board (SRB) (represented by: J. King, L. Pogarcic Mataija and E. Muratori, acting as Agents, H.-G. Kamann and L. Hesse, Rechstanwälte, and F. Louis, avocat)
Operative part of the judgment
The Court:
|
1. |
Dismisses the appeal; |
|
2. |
Orders Algebris (UK) Ltd and Anchorage Capital Group LLC to pay the costs. |