06-02-2017 EU.- The TEU dismisses the OCU and Aeris appeals to access documents on the Popular’s resolution. The General Court of the European Union (TUE) has dismissed this Wednesday several appeals presented by OCU and the company Aeris Invest, the investment arm of the Luksic family, against the decisions of the European Central Bank (ECB) that denied access to certain documents on the resolution of Banco Popular in 2017. POLITICA ECONOMIA ESPAÑA EUROPA SERGIO PEREZ
BRUSSELS, 6 (EUROPA PRESS)
The General Court of the European Union (TUE) has dismissed this Wednesday several appeals presented by OCU and the company Aeris Invest, the investment arm of the Luksic family, against the decisions of the European Central Bank (ECB) that denied access to certain documents on the resolution of Banco Popular in 2017.
However, with regard to the Luksic family’s appeal, the Luxembourg court has upheld the firm’s claim with respect to one of the ECB’s decisions, but only to the extent that it denied access to the result of a vote in the Governing Council of the issuing institute.
The rest of the appeals brought by the consumer organization and by Aeris Invest have been dismissed by the European court of first instance. They requested access, for example, to the complete file of the resolution procedure, to the assessment made by Deloitte and to all notifications or communications made within the framework of the procedure.
With regard to the OCU, the TEU has ruled that the organization “could not invoke the right of defense” and therefore “a request for access to the file was in any case devoid of purpose”. It has also rejected the idea that the information on Popular’s assets and liabilities was out of the public domain.
In the same way, it has assessed that the requested documents “contain confidential information protected by professional secrecy” and, consequently, the ECB “reasonably considered that it was covered by the exception to the right of access.”
With regard to the Aeris Invest appeal, the company also demanded the disclosure of the use of the urgent liquidity provision (ELA) by Banco Popular in the days prior to its resolution, as well as information on the liquidity situation and capital ratios .
The ECB, in the opinion of the TEU judges, was correct in interpreting that the information on the ELA ceiling, the volume of the ELA provided and the guarantees presented were included in the exceptions to the right of access to their documents.
Furthermore, the institution then chaired by Mario Draghi was not wrong in considering that the disclosure of the information regarding the ELA ceiling, the volume of the ELA effectively provided and the guarantees presented would specifically and effectively harm the public interest regarding monetary policy. and the financial stability of the Union or of Spain “.
Another aspect highlighted by the General Court in this case is that there is “no element” that allows “to reach the conclusion that the information to which access was denied is in the public domain”, but, on the contrary, the Requested documents to which the ECB denied access contain confidential information. ”