Source: All England Reporter
Publisher Citation: [2016] All ER (D) 115 (Mar)
Court: Court of Justice of the European Union (Fifth Chamber)

Judges von Danwitz (President of the Fourth Chamber, acting as President of the Fifth Chamber), Svaby, Rosas (Rapporteur), Juhasz and Vajda

Judgment Dates: 10 March 2016


European Union - Directives - Direct application in member states - Directive on prevention of use of financial system for money laundering - Applicant company in business of transferring customers' funds to member states through accounts held with credit institutions - Respondent credit institutions closing applicants' accounts following failure by applicant to provide information required by Spanish national law following discovery of certain irregularities regarding applicant's agents - Applicant challenging respondents' decisions before national courts - National courts deciding in favour of third respondent - Applicant and first and second respondents challenging that decision - Interpretation of various provisions of relevant directive - , arts 5, 7, 11(1), 13.

The Case

European Union Directives. The Court of Justice of the European Union gave a preliminary ruling concerning the interpretation of art 11(1), read in conjunction with , and , of Directive (EC) 2005-60, as amended by . The request had been made in proceedings between Safe Interenvos SA (Safe), a payment institution, and three credit institutions, concerning the closure by those credit institutions of the accounts held by Safe because they had suspected money laundering.

Practice Areas

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