COURT OF JUSTICE OF THE EU / Banks

EU judge deemed competent to assess legality of the ECB's decision in ‘Fininvest’ case, according to Court

Brussels, 19/12/2018 (Agence Europe)

In a judgement delivered on Wednesday 19 December (Case C-219/17), the Court confirmed that the Court of Justice of the European Union has sole jurisdiction to assess whether the legality of the European Central Bank's (ECB) decision opposing the acquisition of a qualifying holding in Banca Mediolanum by Fininvest and Mr Berlusconi is affected by possible defects in the preparatory acts of the Bank of Italy. 

In October 2016, the ECB opposed the acquisition by Fininvest – held by...