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Banco Popular shareholders’ effort to annul resolution dismissed by EU court

( June 1, 2022, 11:41 GMT | Official Statement) -- MLex Summary: The EU General Court has dismissed an application by Banco Popular shareholders to annul its resolution scheme. The court held that although shareholders and creditors of the now-defunct bank had a right to be heard in a resolution procedure, the objective of ensuring the stability of the financial markets justified limiting that right. Hearings would have undermined that objective, as well as the requirements for speed and effectiveness, the court said.Decision attached. ...

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