Portigon v CRU (Judgment) French Text [2020] EUECJ T-420/17 (23 September 2020)

Portigon v CRU (Judgment) French Text [2020] EUECJ T-420/17 (23 September 2020)

The CRU failed to properly authenticate the annex to its decision, which contained the essential calculation of ex ante contributions, as there was no evidence of electronic signature or indissociable linkage to the signed decision text. This constitutes a violation of a substantive formality and requires annulment. Additionally, the CRU violated its obligation to state reasons by failing to provide Portigon AG with sufficient information to verify the calculation of its contribution, rendering the decision opaque and preventing effective judicial review.

Citation
[2020] EUECJ T-420/17
Parties
Applicant: Portigon AG; Respondent: Conseil de résolution unique (CRU); Intervener: Commission européenne
Jurisdiction
European Union
Judgment Date
23 September 2020
Procedural Posture
Annulment Action (recours En Annulation) / Final Judgment at First Instance (general Court, Extended Eighth Chamber)
Outcome
Application granted; the CRU decision as it concerns Portigon AG is annulled.
Legal Topics
Single Resolution Mechanism (srm), Single Resolution Fund (srf), Ex Ante Contributions, Decision Authentication, Obligation to State Reasons, Judicial Review, Procedural Rights
European Union Law Banking and Financial Regulation Administrative Law Single Resolution Mechanism (srm) Single Resolution Fund (srf) Ex Ante Contributions Decision Authentication Obligation to State Reasons +2 more

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 3 Authorities cited 16 Party arguments 2 Amounts and remedies 1
Sign in to unlock

Parties

Portigon AG

Applicant

Conseil de résolution unique (CRU)

Respondent

Commission européenne

Intervener

Procedural Posture

Annulment Action (recours En Annulation) / Final Judgment at First Instance (general Court, Extended Eighth Chamber)

Legal Issues

  1. 1 Whether the contested CRU decision on ex ante contributions for 2017 was properly authenticated
  2. 2 Whether the CRU violated its obligation to state reasons (motivation) in the decision affecting Portigon AG

Ratio Decidendi

The CRU failed to properly authenticate the annex to its decision, which contained the essential calculation of ex ante contributions, as there was no evidence of electronic signature or indissociable linkage to the signed decision text. This constitutes a violation of a substantive formality and requires annulment. Additionally, the CRU violated its obligation to state reasons by failing to provide Portigon AG with sufficient information to verify the calculation of its contribution, rendering the decision opaque and preventing effective judicial review.

Court Disposition

Application granted; the CRU decision as it concerns Portigon AG is annulled.

Orders

  • The CRU decision of 11 April 2017 on ex ante contributions for 2017 is annulled insofar as it concerns Portigon AG.
  • CRU is ordered to pay the costs.