EU Court turfs out Maltese bank bid to regain licence

clock • 1 min read
EU Court turfs out Maltese bank bid to regain licence

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 Pilatus Bank's license had been revoked after the ECB had banned it from operating after its majority shareholder was arrested for allegedly funnelling cash into Iran.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 t...

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