Action brought on 1 August 2022 – Calatrava Real State 2015 v Commission and Others

(Case T-477/22)

Language of the case: Spanish

Parties

Applicant: Calatrava Real State 2015, SL (Madrid, Spain) (represented by: B. Fernández García, lawyer)

Defendants: European Commission, European Central Bank, Single Resolution Board

Form of order sought

The applicant claims that the Court should:

declare that the European Union has incurred non-contractual liability for the unlawful and negligent conduct of the European Commission, the Single Resolution Board and the European Central Bank in respect of the facts set out in the application;

order the European Union to compensate the applicant in the amount of EUR 713 320.65, corresponding to the calculations and the quantification set out in the expert report annexed to the application, plus statutory interest, and order the defendant to pay the costs.

Pleas in law and main arguments

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

First plea, alleging that the Single Resolution Board acted unlawfully by making alarmist public statements and engaging in actions (in particular leaks) constituting irresponsible conduct, which led to the immediate collapse in the share price of Banco Popular Español, S.A. and precipitated its resolution.

Second plea, alleging that the Single Resolution Board and the European Commission acted negligently by adopting and approving the resolution of Banco Popular Español, S.A. without having verified and confirmed, in accordance with EU legislation, whether the requirements and preconditions for applying that resolution mechanism had been met and by failing – once that mechanism was agreed upon – to comply with EU legislation on the resolution procedure or with the rights of the shareholders and/or holders of securities in the bank.

Third plea, alleging that the European Central Bank failed to exercise care in monitoring, supervising, forecasting, regulating and establishing the necessary mechanisms to ensure the liquidity of Banco Popular Español, S.A. and to prevent its resolution.

____________