ECJ Urged To Dismiss Failed Latvian Bank's Status Challenge
Law360, London (January 14, 2021, 7:54 PM GMT) -- A legal adviser urged the European Union's top court Thursday to dismiss claims by Latvia's ABLV Bank that it had been unreasonably forced into liquidation after a banking supervisor said it was likely to fail amid money laundering allegations.
In a nonbinding opinion, Advocate General Manuel Campos Sánchez-Bordona said judges should reject ABLV's bid to annul the European Central Bank's decision from February 2018. The ECB found that the bank and its subsidiary ABLV Bank Luxembourg SA were failing or were likely to fail, which the lender says forced its shareholders to vote for voluntary liquidation.
The advocate general said Thursday...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!