Failed Latvian Bank Takes ECB Challenge To Top EU Court

Law360, London (September 10, 2019, 4:15 PM BST) -- A Latvian bank forced into liquidation amid money laundering allegations has urged the EU’s top court to revive its claims that the European Central Bank unreasonably concluded the lender was likely to go bust.

ABLV Bank AS has filed an appeal with the European Court of Justice, arguing that the lower court was wrong to dismiss the case, according to a notice published in the Official Journal of the EU on Monday.

The bank is seeking to annul the European Central Bank’s decision from February 2018 that the bank and its subsidiary ABLV Bank Luxembourg SA were failing or were likely...

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