Judgment of the General Court Third Chamber, Extended Composition of 22 November 2021, ACMO and Others v SRB, T-330/20

• Date: 22 November 2021
• Year: 2021

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undermine mutual trust between Member States and would be in conflict with the principle of mutual

recognition.

In addition, the Court states that the Directive on electronic commerce seeks to eliminate legal

obstacles to the proper functioning of the internal market arising from divergences in legislation and

from the legal uncertainty as to which national rules apply to such services. However, the possibility of

adopting the abovementioned measures would ultimately amount to subjecting the service providers

concerned to different laws and, consequently, reintroducing the legal obstacles to freedom to

provide services which that directive seeks to eliminate.

Thus, the Court concludes that general and abstract measures aimed at a category of given

information society services described in general terms and applying without distinction to any

provider of that category of services do not fall within the concept of ‘measures taken against a given

information society service’ within the meaning of the Directive on electronic commerce.

V. ECONOMIC AND MONETARY POLICY: SINGLE RESOLUTION MECHANISM

Judgment of the General Court (Third Chamber, Extended Composition) of 22 November

2021, Del Valle Ruíz and Others v SRB, T-302/20, T-303/20 and T-307/20

Economic and monetary union – Banking union – Single resolution mechanism for credit institutions and

certain investment firms (SRM) – Resolution of Banco Popular Español – Decision of the SRB refusing to

grant compensation to the shareholders and creditors affected by the resolution actions – Right to

property – Right to be heard – Right to an effective remedy – Valuation of difference in treatment –

Independence of the valuer

Judgment of the General Court (Third Chamber, Extended Composition) of 22 November

2021, Molina Fernández v SRB, T-304/20

Judgment of the General Court (Third Chamber, Extended Composition) of 22 November

2021, ACMO and Others v SRB, T-330/20

Link to the full text of the judgment

Economic and monetary union – Banking union – Single resolution mechanism for credit institutions and

certain investment firms (SRM) – Resolution of Banco Popular Español – Decision of the SRB refusing to

grant compensation to the shareholders and creditors affected by the resolution actions – Valuation of

difference in treatment – Independence of the valuer

In Joined Cases T-302/20, T-303/20 and T-307/20 and in Case T-304/20, the applicants are natural and

legal persons who were shareholders in Banco Popular Español, SA (‘Banco Popular’) before the

adoption of a resolution scheme in respect of Banco Popular. In Case T-330/20, on the other hand, the

applicants are investment funds which, before the adoption of that scheme, owned capital