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European regulatory bodies taken to court over treatment of Banco Popular

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European regulatory bodies taken to court over treatment of Banco Popular

The European Central Bank and the Single Resolution Board are facing two legal actions related to the collapse of Banco Popular Español SA, Reuters reported Oct. 13, citing the European Court of Justice.

The authorities stepped in to facilitate the sale of struggling Popular to Banco Santander SA on June 7 for a symbolic €1.

Details of the cases, which were filed by Banco Popular's minority shareholders and Spain-based firm La Guirigaña against the two regulatory bodies, are not available yet, Reuters said.