Judgment of the General Court of 24 January 2024 – Hypo Vorarlberg Bank v SRB
(Case T-347/21) 1
(Economic and monetary union – Banking union – Single resolution mechanism for credit institutions and certain investment firms (SRM) – Single Resolution Fund (SRF) – Decision of the SRB on the calculation of the 2021 ex ante contributions – Obligation to state reasons – Right to be heard – Principle of legal certainty – Right to effective judicial protection – Plea of illegality – Limitation of the temporal effects of the judgment)
Language of the case: German
Parties
Applicant: Hypo Vorarlberg Bank AG (Bregenz, Austria) (represented by: G. Eisenberger, A. Brenneis and J. Holzmann, lawyers)
Defendant: Single Resolution Board (represented by: J. Kerlin, D. Ceran and C. Flynn, acting as Agents, and by B. Meyring, T. Klupsch and S. Ianc, lawyers)
Interveners in support of the defendant: European Parliament (represented by: J. Etienne, M. Menegatti and G. Bartram, acting as Agents), Council of the European Union (represented by: J. Bauerschmidt, J. Haunold and A. Westerhof Löfflerová, acting as Agents)
Re:
By its action under Article 263 TFEU, the applicant seeks the annulment of Decision SRB/ES/2021/22 of the Single Resolution Board (SRB) of 14 April 2021 on the calculation of the 2021 ex ante contributions to the Single Resolution Fund in so far as that decision concerns it.
Operative part of the judgment
The Court:
Annuls Decision SRB/ES/2021/22 of the Single Resolution Board (SRB) of 14 April 2021 on the calculation of the 2021 ex-ante contributions to the Single Resolution Fund, in so far as it concerns Hypo Vorarlberg Bank AG;
Maintains the effects of Decision SRB/ES/2021/22, in so far as it concerns Hypo Vorarlberg Bank AG, until the entry into force, within a reasonable period which cannot exceed six months from the date of delivery of the present judgment, of a new decision of the SRB fixing the applicant’s ex ante contribution to the Single Resolution Fund for 2021;
Orders the SRB to bear its own costs and to pay those incurred by Hypo Vorarlberg Bank;
Orders the European Parliament and the Council of the European Union to bear their own costs.
____________
1 OJ C 320, 9.8.2021.