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Banco Popular investors weren’t entitled to SRB compensation, EU court says

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Published on: 22 November 2023
Published by an MLex correspondent

Article summary

MLex: Banco Popular shareholders and creditors have today seen their legal challenges against a 2020 decision by the Single Resolution Board (SRB) dismissed by EU judges. In 2020, the SRB decided not to provide compensation as part of the resolution of the Spanish bank. In a ruling delivered this morning, the General Court confirmed that they didn’t qualify for compensation as they wouldn’t have received better treatment in the event of the liquidation of the bank. Their property rights were thus not breached.

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