EU Court turfs out Maltese bank bid to regain licence

Mark Battersby
clock • 1 min read

European Union's General Court has dismissed an application filed by Malta-headquartered Pilatus Bank plc which tried to annul the European Central Bank's 2018 decision to withdraw the bank's authorisation to act as a credit institution in the bloc. Pilatus Bank's license had been revoked after the ECB had banned it from operating after its majority shareholder was arrested for allegedly funnelling cash into Iran. In the detailed European General Court statement, it rejected all 11 of the bank's arguments to overturn out the ECB's decision. The EU General Court said: "Pilatus Bank ...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now


Already a International Investment member?