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ECB's annulled Banca Carige administration decision heads back to lower EU court

( July 15, 2025, 09:03 GMT | Official Statement) -- MLex Summary: The European Central Bank's decision in 2019 to place Italian bank Banca Carige under temporary administration should be annulled, the EU's top court said today. The EU Court of Justice was ruling on challenges by the ECB and European Commission to an earlier judgment by the lower-tier General Court that annulled the ECB's action. While judges upheld the annulment of the ECB's decision in today's ruling, however, they also set aside the General Court's judgment and referred the case back to the lower court to consider specific pleas in the original case after dismissing a plea that had alleged an error in law in the ECB's determination of the legal basis for its decision.Judgment attached. Case references are C-777/22 P and C-789/22 P....

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