Order of the General Court of 6 May 2019 — ABLV Bank v ECB

(Case T-281/18) ¹

(Action for annulment — Economic and monetary union — Banking union — Single resolution mechanism for credit institutions and certain investment firms (SRM) — Resolution procedure applicable where an entity is failing or is likely to fail — Parent company and subsidiary — Declaration by the ECB that an entity is failing or is likely to fail — Regulation (EU) No 806/2014 — Preparatory measures — Acts not open to judicial review — Inadmissibility)

Language of the case: English

Parties

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

Defendant: European Central Bank (represented by: G. Marafioti and E. Koupepidou, acting as Agents, and J. Rodríguez Cárcamo, lawyer)

Re:

Application under Article 263 TFEU seeking annulment of the European Central Bank’s decisions of 23 February 2018 by which the latter declared that the applicant and its subsidiary, ABLV Bank Luxembourg SA, were failing or were likely to fail within the meaning of Article 18(1) of 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).

Operative part of the order

The action is dismissed as inadmissible.

ABLV Bank AS shall bear its own costs and pay those of the European Central Bank (ECB).

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¹     OJ C 259, 23.7.2018.