VTB Bank v ECB

Action brought on 30 October 2024 – VTB Bank v ECB(Case T-568/24)Language of the case: German Parties Applicant: VTB Bank PAO (Saint Petersburg, Russia) (represented by: G. Müller, lawyer)Defendant: European Central Bank Form of order sought The applicant claims that the Court should:declare the decision of the European Central Bank on the revocation of the licence of OWH SE i. L. dated 19 August 2024, ECB-SSM-2024-DE-20 WHD-2023-0011 null and void pursuant to Art. 263(4) TFEU;order the defendant to grant the applicant access to the files of the proceedings concerning the revocation of the licence referred to in the application under 1 above, pursuant to Article 32(1) of Regulation (EU) No 468/2014. 1 Pleas in law and main arguments In support of the action, the applicant relies on four pleas in law. First plea in law, alleging lack of consultation and procedural involvement of the applicant as majority shareholder of OWH SE i. L. in the decision on the liquidation of OWH SE (formerly VTB Bank (Europe) SE), as well as in the preparation of the decision on the revocation of the licence Second plea in law, alleging infringement of the right to effective legal protection The applicant had not been granted access to the files prior to the decision to revoke the licence. For that reason, it also requests access to the file as part of the court proceedings, as that is the only way it can effectively defend itself against the measure taken to revoke the licence to its detriment. In...