The Supreme Court applies the CJEU’s case-law and rejects Santander’s response for the People’s Bankruptcy.

plenary session of the First Chamber, penalty of last May 5 and The appeal against the dismissal of the lawsuit filed by the two shareholders of Banco Popular against Banco Santander was dismissed. With this, they aimed for Popular’s shareholders to assert their claims against Banco Santander.

This decision is in line with Directive 2014/59.It prevents shareholders from filing a debt or annulment action against the credit institution that issued the prospectus for the public subscription offer or its successor. after the adoption of the resolution decision”.

With this criterion, which the Court of Cassation must follow, “the essential precondition of the case brought in the case and the appeal itself” against the sentence rejecting the claim in the first instance court is removed.

The General Assembly of the Supreme Court of Appeals will meet again on October 26. Analyzing the situation of convertible subordinated bonds and debentures.

Source: Informacion

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