ECB Appeals Ruling Over Failed Portuguese Bank Disclosure

Law360, London (September 23, 2019, 3:12 PM BST) -- The European Central Bank has appealed a decision that forces it to disclose why it stopped aid to a collapsed Portuguese bank, claiming it does not need to justify why it is in the public interest to withhold the information, according to documents published Monday.

The ECB said the General Court of the European Union was wrong to rule in March that it should reveal details about why it prevented Portugal’s central bank in 2014 from providing emergency liquidity to Banco Espírito Santo SA, one of the country’s largest lenders, which collapsed later that year.

The EU’s central bank said in an...

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