ECB Gets Court OK To Withdraw Anglo Austrian Bank License

Law360, London (February 7, 2020, 3:51 PM GMT) -- Anglo Austrian AAB Bank lost its attempt on Friday to hit pause on a European Central Bank decision that stripped it of its license amid allegations of money laundering and compliance failures.

The president of the European Union's General Court has ruled in favor of the ECB after months of back and forth about the Vienna-based bank's license, which was suspended in November. Austria’s financial regulator requested that AAB Bank's authorization should be withdrawn after it took numerous supervisory measures against the lender.

The private bank and its owner, Belegging-Maatschappij Far-East BV, lodged a complaint with the General Court of the European...

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!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!