This document is an excerpt from the EUR-Lex website
Document 62022TA0323
Case T-323/22: Judgment of the General Court of 10 July 2024 – PH and Others v ECB (Economic and monetary policy – Prudential supervision of credit institutions – Opposition of the ECB to the acquisition of qualifying holdings in a credit institution – Action for annulment – Interest in bringing proceedings – Direct concern – Inadmissibility in part – Reputation and professional competence of the proposed acquirer – Financial soundness – Compliance with prudential requirements – Anti-money laundering and counter-terrorist financing – Proportionality)
Case T-323/22: Judgment of the General Court of 10 July 2024 – PH and Others v ECB (Economic and monetary policy – Prudential supervision of credit institutions – Opposition of the ECB to the acquisition of qualifying holdings in a credit institution – Action for annulment – Interest in bringing proceedings – Direct concern – Inadmissibility in part – Reputation and professional competence of the proposed acquirer – Financial soundness – Compliance with prudential requirements – Anti-money laundering and counter-terrorist financing – Proportionality)
Case T-323/22: Judgment of the General Court of 10 July 2024 – PH and Others v ECB (Economic and monetary policy – Prudential supervision of credit institutions – Opposition of the ECB to the acquisition of qualifying holdings in a credit institution – Action for annulment – Interest in bringing proceedings – Direct concern – Inadmissibility in part – Reputation and professional competence of the proposed acquirer – Financial soundness – Compliance with prudential requirements – Anti-money laundering and counter-terrorist financing – Proportionality)
OJ C, C/2024/5092, 26.8.2024, ELI: http://data.europa.eu/eli/C/2024/5092/oj (BG, ES, CS, DA, DE, ET, EL, EN, FR, GA, HR, IT, LV, LT, HU, MT, NL, PL, PT, RO, SK, SL, FI, SV)
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Official Journal |
EN C series |
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C/2024/5092 |
26.8.2024 |
Judgment of the General Court of 10 July 2024 – PH and Others v ECB
(Case T-323/22) (1)
(Economic and monetary policy - Prudential supervision of credit institutions - Opposition of the ECB to the acquisition of qualifying holdings in a credit institution - Action for annulment - Interest in bringing proceedings - Direct concern - Inadmissibility in part - Reputation and professional competence of the proposed acquirer - Financial soundness - Compliance with prudential requirements - Anti-money laundering and counter-terrorist financing - Proportionality)
(C/2024/5092)
Language of the case: English
Parties
Applicants: PH, PI, PJ and Socrates Capital Ltd (Toronto, Canada) (represented by: D. Hillemann, C. Fischer and T. Ehls, lawyers)
Defendant: European Central Bank (represented by: E. Yoo, S. Letocart and V. Hümpfner, acting as Agents)
Intervener in support of the defendant: European Commission (represented by: D. Triantafyllou, acting as Agent)
Re:
By their action under Article 263 TFEU, the applicants seek annulment of the decision of the European Central Bank (ECB) of 22 March 2022 by which it opposed the acquisition by PH, PI and PJ of a qualifying holding in HKB Bank GmbH and the exceedance of 50 % of the capital and voting rights in the latter.
Operative part of the judgment
The Court:
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1. |
Dismisses the action; |
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2. |
Orders PH, PI, PJ and Socrates Capital Ltd to bear their own costs and to pay those incurred by the European Central Bank (ECB); |
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3. |
Orders the European Commission to bear its own costs. |
ELI: http://data.europa.eu/eli/C/2024/5092/oj
ISSN 1977-091X (electronic edition)