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ECB's Refusal To Publish Minutes On Banco Espirito Anulled

Law360, London (March 15, 2019, 9:26 PM GMT) -- A European court has annulled a decision by the European Central Bank in 2016 to refuse disclosure related to its suspension of aid to the now-collapsed Banco Espirito Santo SA, concluding that the information being sought would not have undermined public interest as claimed.

The General Court of the EU said in its ruling Wednesday that the ECB should not have refused to lift redactions in the minutes of its meetings from July 28 and Aug. 1, 2014, which recorded the ceiling for the emergency liquidity that could be granted by Portugal's central bank to BES.

The case was brought to...

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