Action brought on 21 December 2018 – ABLV Bank v SRB

(Case T-758/18)

Language of the case: English

Parties

Applicant: ABLV Bank AS (Riga, Latvia) (represented by: O. Behrends, M. Kirchner and L. Feddern, lawyers)

Defendant: Single Resolution Board (SRB)

Form of order sought

The applicant claims that the Court should:

annul the decision of the SRB of 17 October 2018 with respect to ABLV Bank as regards the SRB’s refusal to recalculate and to repay that bank’s ex ante contributions to the Single Resolution Fund;

order the defendant to bear the costs.

Pleas in law and main arguments

In support of the action, the applicant relies on ten pleas in law.

First plea in law, alleging that the SRB failed to give sufficient weight to the pro rata temporis nature of Fund contributions.

Second plea in law, alleging that the SRB failed to take into account the SRB’s own express recognition that Fund contributions are refundable on a pro rata temporis basis.

Third plea in law, alleging that the SRB failed to take into account the express recognition in Article 12(1) of Commission Delegated Regulation 2015/63 ¹ that only partial payments are owed if the conditions are met only during part of the relevant year.

Fourth plea in law, alleging that the SRB erroneously relied on Article 70(4) of Regulation 806/2014. ²

Fifth plea in law, alleging that the SRB relied on an erroneous interpretation of Article 12(2) of Commission Delegated Regulation 2015/63.

Sixth plea in law, alleging that the SRB violated the principles of legal certainty and legitimate expectations.

Seventh plea in law, alleging that the SRB violated the principle of proportionality.

Eighth plea in law, alleging that the SRB violated the nemo auditur principle.

Ninth plea in law, alleging that the SRB failed to take into account the relevance of its prior actions.

Tenth plea in law, alleging that the SRB violated Articles 16 and 17 of the Charter of Fundamental Rights of the European Union.

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¹ Commission Delegated Regulation (EU) 2015/63 of 21 October 2014 supplementing Directive 2014/59/EU of the European Parliament and of the Council with regard to ex ante contributions to resolution financing arrangements (OJ 2015, L 11, p. 44).

² Regulation (EU) No 806/2014 of the European Parliament and of the Council of 15 July 2014 establishing uniform rules and a uniform procedure for the resolution of credit institutions and certain investment firms in the framework of a Single Resolution Mechanism and a Single Resolution Fund and amending Regulation (EU) No 1093/2010 (OJ 2014 L 225, p. 1).