ECB Appoints Administrators At Troubled Italian Bank
Law360, London (January 2, 2019, 1:13 PM GMT) -- The European Central Bank appointed temporary administrators and a surveillance committee on Wednesday to take charge of Italy’s Banca Carige SpA, after most of the bank’s board members resigned.
The central bank said it had been necessary to place the struggling bank in temporary administration to allow it to stabilize its governance structure and restore compliance with regulatory capital requirements. The new administrators and committee will replace the bank’s board of directors, according to Wednesday’s statement.
“The decision to impose temporary administration is an early intervention measure aimed at ensuring continuity and pursuing the objectives of a strategic plan,” the ECB...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!