EU General Court Judgment in case T-134/21 Malacalza Investimenti and Malacalza v ECB

Wednesday, 5th June 2024

General Court Judgment in case T-134/21 Malacalza Investimenti and Malacalza v ECB

(Economic and monetary policy – European Central Bank (ECB))

Banca Carige is a large credit institution based in Italy, listed on the stock exchange and subject to direct prudential supervision of the European Central Bank (ECB) since 2014.

Between 2015 and 2019, the ECB has adopted several intervention measures as part of this supervision.

Malacalza Investimenti and Mr Malacalza are shareholders in the Carige bank. Mr Malacalza had also been a member and vice-chairman of the bank’s board of directors.

They have brought an action before the General Court of the European Union, seeking compensation for the damage they believe they have suffered as a result of various actions taken by the ECB in connection with the exercise of its supervisory functions over Banca Carige.

In their view, the ECB’s conduct and measures are contrary, in several respects, to the duties associated with its supervisory functions, particularly with regard to safeguarding the sound and prudent management of banks. They also allege that the ECB is in breach of the principles of protection of property, proportionality, sound administration, equality, impartiality and equal treatment, transparency, good faith and the protection of legitimate expectations.

They request that the ECB be ordered to pay Malacalza Investimenti €870,525,670 and Mr Malacalza €9,546,022 and to order the ECB to take a number of measures of inquiry.

Background Documents T-134/21

Mittwoch, 5. Juni 2024

Urteil des Gerichts in der Rechtssache T-134/21 Malacalza Investimenti und Malacalza / Europäische Zentralbank

Aufsichtsfunktion der EZB

Im Zuge der Ausübung der Aufsichtsfunktion der Europäischen Zentralbank über italienische Banken mussten die Malacalza Investimenti Srl und Herr Vittorio Malacalza erhebliche Geldbeträge ausgeben.

Sie sind der Auffassung, diese seien als Schaden einzustufen, der sowohl aus Unterlassungen gebotener Handlungen als auch aus schädigenden Handlungen der EZB in der Ausübung ihrer Aufsichtsfunktion hervorgehe.

2021 haben die Malacalza Investimenti Srl und Herr Vittorio Malacalza vor dem Gericht der EU eine Klage auf Kostenerstattung vor dem Gericht der EU eingereicht.

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