Final judgment of the EU Court of Justice published, puts an end to the 10-year case with a favorable judgement for Banca Popolare di Bari
MILAN - 2 March 2021 - The judgment of the Court of Justice of the European Union was made public today, rejecting the appeal brought by the European Commission and establishing that the funds granted by the Interbank Deposit Protection Fund (FITD) in 2014 to Banca Tercas, later acquired by Banca Popolare di Bari, were not State Aid.
Banca Popolare di Bari was assisted by Greenberg Traurig Santa Maria, with a team lead by partners Alberto Santa Maria and Edoardo Gambaro, together with Senior Associate Pietro Missanelli, Associate Massimiliano Pizzonia, and Junior Associate Giulia Massara.
Working alongside Greenberg Traurig Santa Maria was Michele Crisostomo, Partner at Studio Cappelli RCCD.
"Today's ruling represents a major innovation in EU state aid matters and sets a very important precedent," said Gambaro. "The Court of Justice of the European Union confirms, implicitly, that the Commission's interpretation was wrong, and it is undeniable that this interpretation created damage to the Italian banking system."