Judgments in Joined Cases C-8/15 P Ledra Advertising v Commission and ECB, C-9/15 P Eleftheriou and Others v Commission and ECB and C-10/15 P Theophilou v Commission and ECB and in Joined Cases C-105/15 P Mallis and Malli v Commission and ECB, C-106/15 P Tameio Pronoias Prosopikou Trapezis Kyprou v Commission and ECB, C-107/15 P Chatzithoma v Commission and ECB, C-108/15 P Chatziioannou v Commission and ECB and C-109/15 P Nikolaou v Commission and ECB

The European Court of Justice confirmed on 20 September 2016 the dismissal of the actions for annulment and dismisses on the merits the actions for compensation concerning the restructuring of the Cypriot banking sector.

While setting aside the orders of the General Court relating to the actions for compensation, the ECJ decided nevertheless to dismiss those actions, finding that the European Commission did not contribute to a breach of the right to property of persons bringing the actions that is guaranteed by the Charter of Fundamental Rights of the European Union.

Commentators noted that the judgments would be of interest to anyone concerned with the preservation of fundamental rights under the new governance framework of the Economic and Monetary Union.

• Primary Source

ESO: Background information: Opinions of the Advocates General in Joined Cases C-8/15 P Ledra Advertising v Commission and ECB, C-9/15 P Eleftheriou and others v Commission and ECB and C-10/15 P Theophilou v Commission and ECB as and in Joined Cases C-105/15 P Mallis and Malli v Commission and ECB, C-106/15 P Tameio Pronoias Prosopikou Trapezis Kyprou v Commission and ECB, C-107/15 P Chatzithoma v Commission and ECB, C-108/15 P Chatziioannou v Commission and ECB and C-109/15 P Nikolaou v Commission and ECB http://www.europeansources.info/record/press-release-opinions-of-the-advocates-general-in-joined-cases-c-8-15-p-ledra-advertising-v-commission-and-ecb-c-9-15-p-eleftheriou-and-others-v-commission-and-ecb-and-c-10-15-p-theophilou-v-commis/

EurActiv, 21.09.16: Austerity-hit citizens allowed to sue troika, ECJ rules http://www.euractiv.com/section/all/news/austerity-hit-citizens-allowed-to-sue-troika-ecj-rules/

Cyprus Mail, 20.09.16: European Court of Justice reaffirms ‘no’ to Cypriot bail-in claimants http://cyprus-mail.com/2016/09/20/european-court-justice-reaffirms-no-cypriot-bail-claimants/

Blog: EU Law Analysis, 25.09.16: Bailouts, Borrowed Institutions, and Judicial Review: Ledra Advertising http://eulawanalysis.blogspot.co.uk/2016/09/bailouts-borrowed-institutions-and.html

Blog: Verfassungsblog, 21.09.16: ESM and Protection of Fundamental Rights: Towards the End of Impunity? http://verfassungsblog.de/esm-and-protection-of-fundamental-rights-towards-the-end-of-impunity/

Blog: Verfassungsblog, 21.09.16: CJEU Opens Door to Legal Challenges to Euro Rescue Measures in Key Decision http://verfassungsblog.de/cjeu-opens-door-to-legal-challenges-to-euro-rescue-measures-in-key-decision/

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