Portigon v SRB (Contributions ex ante 2017) (Economic and Monetary Union - Banking Union - Single Resolution Mechanism for Credit Institutions and Certain Investment Firms (SRM) - Judgment) French Text [2024] EUECJ T-641/22 (06 November 2024)

Portigon v SRB (Contributions ex ante 2017) (Economic and Monetary Union - Banking Union - Single Resolution Mechanism for Credit Institutions and Certain Investment Firms (SRM) - Judgment) French Text [2024] EUECJ T-641/22 (06 November 2024)

The SRB decision was annulled due to insufficient and incoherent reasoning regarding the method for determining the annual target level for ex ante contributions, as the real calculation method applied was not reflected in the decision, preventing affected parties and the court from understanding the true basis of the measure.

Citation
[2024] EUECJ T-641/22
Parties
Applicant: Portigon AG; Respondent: Conseil de résolution unique (CRU); Intervener: Parlement européen; Intervener: Conseil de l’Union européenne
Jurisdiction
European Union
Judgment Date
06 November 2024
Procedural Posture
Annulment Action (article 263 Tfeu) / Final Judgment
Outcome
Decision annulled in so far as it concerns Portigon AG; effects maintained temporarily.
Legal Topics
Single Resolution Mechanism, Banking Union, Ex Ante Contributions, Obligation to State Reasons, Annulment of Administrative Acts
European Union Law Banking and Finance Law Administrative Law Single Resolution Mechanism Banking Union Ex Ante Contributions Obligation to State Reasons Annulment of Administrative Acts

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Parties

Portigon AG

Applicant

Conseil de résolution unique (CRU)

Respondent

Parlement européen

Intervener

Conseil de l’Union européenne

Intervener

Procedural Posture

Annulment Action (article 263 Tfeu) / Final Judgment

Legal Issues

  1. 1 Whether the SRB decision on ex ante contributions for 2017 was sufficiently reasoned
  2. 2 Whether the calculation method for the annual target level was properly explained
  3. 3 Whether the applicant's rights of defence and right to effective judicial protection were respected

Ratio Decidendi

The SRB decision was annulled due to insufficient and incoherent reasoning regarding the method for determining the annual target level for ex ante contributions, as the real calculation method applied was not reflected in the decision, preventing affected parties and the court from understanding the true basis of the measure.

Court Disposition

Decision annulled in so far as it concerns Portigon AG; effects maintained temporarily.

Orders

  • The SRB decision SRB/ES/2022/41 of 25 July 2022 is annulled in so far as it concerns Portigon AG.
  • The effects of the annulled decision are maintained until a new decision is adopted, for a period not exceeding six months from the date of judgment.