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ECB's Banca Carige administration decision should be annulled, opinion for EU's top court says

( November 21, 2024, 09:48 GMT | Official Statement) -- MLex Summary: The European Central Bank's action in 2019 to place Italian bank Banca Carige under temporary administration should be annulled, a non-binding opinion for the EU's top court said today. Advocate General Juliane Kokott said that the appeals from both the ECB and the European Commission should be dismissed as none of their grounds can be upheld. The ruling under appeal is one from 2022 where the EU's lower-tier General Court annulled the ECB decision to place Banca Carige under temporary administration as well as the decision that extended the temporary administration until the end of September 2019. Opinion attached. Case reference is C-777/22 and C-789/22....

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