Shareholders and creditors affected by the decision of the ‘Single Resolution Board’ (SRB) to resolve the Spanish bank Banco Popular were not entitled to compensation from the ‘Single Resolution Fund’ (SRF), the General Court of the European Union ruled in a judgment delivered on Wednesday 22 November (joined cases T-302/20, T-303/20, T-307/20, T-304/20, T-330/20 and T-340/20).
In June 2017, the SRB Council adopted a resolution package for Banco Popular, subsequently approved by...