Bucharest, 7 October 2022 - In September 2022, the courts ruled in favour of ASF in the following cases:
By Judgment no. 1376/5.09.2022, the Bucharest Court of Appeal rendered the following decision in favour of ASF, against the claimant ABC Asigurări Reasigurări S.A.:
Ruling made in brief:
„Dismisses the application for suspension as unfounded.
With appeal within 5 days of service (...)”
Subject matter of the case: by its initial application, the claimant ABC Asigurări Reasigurări S.A., pursuant to the provisions of Article 15 of the Administrative Litigation Law no. 554/2004, requests the stay of execution of the measure provided for in Article 2 of the ASF Decision no. 880/11.07.2022, by which the company was required to send to ASF, within 2 (two) months from the date of receipt of the decision, for approval, a recovery plan with measures to restore the level of eligible own funds covering the SCR or to change the risk profile so that within 6 (six) months the SCR is again complied with.
The court’s solution can be consulted at:
https://portal.just.ro/2/SitePages/Dosar.aspx?id_dosar=200000000412242&id_inst=2
By judgment no. 1183/6.09.2022, the Bucharest Court of Appeal rendered the following decision in favour of ASF, against the claimant ASSISTA ASIMED S.A. (formerly Societatea de Asigurare-Reasigurare ASIMED S.A.):
Ruling made in brief:
„Dismisses the appeal as unfounded.
Final.”
Subject matter of the case: ASF's application to open bankruptcy proceedings against Assista Asimed S.A. (formerly Societatea de Asigurare Reasigurare Asimed S.A.).
By Civil Judgment no. 2025/21.04.2022, the Bucharest Court - 7th Civil Division admitted the application filed by the claimant ASF, dismissed, as unfounded, the appeal filed by the debtor and ordered the bankruptcy of the debtor Assista Asimed S.A. (formerly Societatea de Asigurare Reasigurare Asimed S.A.).
The court’s solution can be consulted at:
https://portal.just.ro/2/SitePages/Dosar.aspx?id_dosar=300000001016691&id_inst=2
By Judgment no. 3914/14.09.2022, the High Court of Cassation and Justice rendered the following decision in favour of ASF, against the claimant Buzera Barbu Mircea, in his capacity as Vice-Chairman of the Board of Directors of the company Societatea de Asigurare-Reasigurare City Insurance S.A., at the date of the sanction:
Ruling made in brief:
„Admits the appeal filed by the defendant Financial Supervisory Authority against Judgment no. 294 of 12 March 2021 of the Bucharest Court of Appeal - 9th Division for Administrative and Fiscal Litigation. Sets aside the judgment under appeal. Dismisses the application of the claimant Buzera Barbu Mircea for suspension of enforcement.
Final.”
Subject matter of the case: the appeal filed by ASF against Civil Judgment no. 294/12.03.2021, by which the court of first instance upheld the action of Mr. Buzera Barbu Mircea and ordered the a stay of execution of Article 1 of Decision no. 84/25.01.2021, pending the final resolution of the action for annulment registered under no. 1010/2/2021.
Notes: on the merits, the case concerned the a stay of execution of Article 1 of the ASF Decision no. 84/25.01.2021, pending the final resolution of the action brought against the same decision. By that decision, the applicant was fined 500,000 lei as Vice-Chairman of the Board of Directors of City Insurance S.A. at the date of the sanction.
The court’s solution can be consulted at:
By Judgment no. 3915/14.09.2022, the High Court of Cassation and Justice delivered the following judgment in favour of ASF against the claimant Rossler Max Walter, in his capacity as Vice-Chairman of the Supervisory Board of the company Societatea de Asigurare-Reasigurare City Insurance S.A., at the date of the sanction:
Ruling made in brief:
„Admits the appeal filed by the defendant Financial Supervisory Authority against Judgment no. 391 of 16 March 2021 of the Bucharest Court of Appeal - 8th Division for Administrative and Fiscal Litigation. Sets aside the judgment under appeal. Dismisses the application of the claimant Rossler Max Walter for suspension of enforcement.”
Final.”
Subject matter of the case: the appeal filed by ASF against Civil Judgment no. 391/16.03.2021, by which the Bucharest Court of Appeal admitted the action of Mr. Rossler Max Walter and ordered the a stay of execution of the ASF Decision no. 87/25.01.2021, until the final resolution of the action for annulment, registered under no. 1022/2/2021.
Notes: on the merits, the case concerned the stay of execution of the ASF Decision no. 87/25.01.2021 on the sanctioning with a fine in the amount of 450,000 lei of Mr. Rossler Max Walter, Vice-Chairman of the Supervisory Board of the company Societatea de Asigurare-Reasigurare City Insurance S.A., at the date of the sanction.
The court’s solution can be consulted at:
By Judgment no. 3945/15.09.2022, the High Court of Cassation and Justice rendered the following decision, in favour of ASF, against the claimant Ciurezu Tudor, as Chairman of the Board of Directors - SIF Oltenia, at the date of the sanction:
Ruling made in brief:
„Dismisses the appeal brought by the claimant Ciurezu Tudor against Civil Judgment no. 277 of 11 May 2020 of the Bucharest Court of Appeal - 8th Division for Administrative and Fiscal Litigation as unfounded.
Final.”
Subject matter of the case: the appeal filed by the appellant-claimant against Civil Judgment no. 277/11.05.2020, by which the Bucharest Court of Appeal dismissed the action on the grounds that the conditions of well-founded case and imminent damage were not proven to have been met.
Notes: on the merits, the case concerned the suspension of ASF Decision no. 1286/23.10.2019, by which Mr. Ciurezu Tudor was fined 30,000 lei, as Chairman of the Board of Directors - SIF Oltenia, at the date of the sanction.
The court’s solution can be consulted at:
By Judgment no. 3932/15.09.2022, the High Court of Cassation and Justice rendered the following decision in favour of ASF against the claimant Onix Asigurări S.A.:
Ruling made in brief:
„Dismisses the appeal brought by the claimant Onix Asigurări SA against Civil Judgment no. 1107 of 6 November 2020 of the Bucharest Court of Appeal - 8th Division for Administrative and Fiscal Litigation as unfounded.
Final.”
Subject matter of the case: the appeal filed by the appellant-claimant against the Civil Judgment no. 2575/26.06.2017, by which the Bucharest Court of Appeal ordered the following:
- noted the appellant's waiver in respect of head 3, concerning claims;
- dismissed the appellant's action as unfounded.
Notes: on the merits, the case concerned::
By ASF Decision no. 123/04.02.2020, in accordance with the provisions of Art. 112 para. (3) of Law no. 237/2015 on the authorisation and supervision of insurance and reinsurance activity, as amended, the authority rejected the request of Onix Asigurări S.A. for notification of the information communicated pursuant to Art. 111 para. (1) of the Law, to the competent authority of Italy (IVASS), regarding the intention to carry out insurance activity for class A.10 - motor third party liability, for the use of land vehicles (excluding carrier's liability) based on the right of establishment on the territory of Italy" [...].
The court’s solution can be consulted at:
By Judgment no. 4006/15.09.2022, the High Court of Cassation and Justice rendered the following decision, in favour of ASF, against S.C. Vivendi International S.R.L.:
Ruling made in brief:
„Dismisses the appeal filed by the appellant-claimant Vivendi International SRL against Civil Judgment no. 1599 of 8 November 2021 delivered by the Bucharest Court of Appeal - 8th Division for Administrative and Fiscal Litigation as unfounded. Final.”
Subject matter of the case: the appeal lodged by Vivendi International SRL against the Judgment of 8.11.2021 by which the court dismissed the application for a stay of execution as unfounded.
Notes: on the merits, the case concerned an application for a stay of execution of the ASF Decision no. 1148/17.09.2021, by which ASF fined City Insurance S.A. 273,000 lei, withdrew the operating licence, declared the company insolvent and the promotion by ASF the application for the opening of bankruptcy proceedings against the company, as well as the extension of the mandate granted to FGA by the ASF Decision no. 724/03.06.2021.
The court’s solution can be consulted at:
By Judgment no. 4066/21.09.2022, the High Court of Cassation and Justice rendered the following decision in favour of ASF against Mr. Chiș Grigore, as manager of SSIF BRK S.A., at the date of sanctioning:
Ruling made in brief:
„Dismisses the objection to the invalidity of the appeal as unfounded. Admit the appeal filed by the defendant Financial Supervisory Authority against Civil Judgment no. 2124 of 28 June 2019, delivered by the Bucharest Court of Appeal - 8th Division for Administrative and Fiscal Litigation. Sets aside the judgment under appeal and refers the case back to the same court for retrial.
Final.”
Subject matter of the case: the appeal filed by ASF against Civil Judgment no. 2124/28.06.2019, by which the court ordered the annulment of ASF Decision no. 1443/12.10.2017, by which Mr. Chiș Grigore was sanctioned, as manager of SSIF BRK S.A., with a fine in the amount of 22,500 lei.
The court’s solution can be consulted at:
By Judgment no. 1493/21.09.2022, the Bucharest Court of Appeal rendered the following decision in favour of ASF, against ABC Asigurări Reasigurări S.A.:
Ruling made in brief:
„Dismisses the objection of res judicata as unfounded. Dismisses the application for suspension as unfounded. With appeal within 5 days of service. (...)”
Subject matter of the case: by its introductory application, ABC Asigurări Reasigurări S.A., pursuant to Article 14 para. (1) of the Administrative Litigation Law no. 554/2004, seeks suspension of the enforcement of the measure provided for in Article 2 of the ASF Decision no. 880/11.07.2022, by which the company was required to submit to ASF, for approval, within two (2) months of the date of receipt of the decision, a recovery plan, with measures to restore the level of eligible own funds covering the SCR or to change the risk profile, so that within six (6) months the SCR is again complied with.
The court’s solution can be consulted at:
https://portal.just.ro/2/SitePages/Dosar.aspx?id_dosar=200000000412114&id_inst=2
By Judgment no/ 4158/22.09.2022, the High Court of Cassation and Justice rendered the following decision in favour of ASF against SSIF BRK Financial Group S.A.:
Ruling made in brief:
„Dismisses the appeal brought by the applicant SSIF BRK Financial Group SA against judgment no. 2400 of 15 October 2019 of the Bucharest Court of Appeal - 8th Division for Administrative and Fiscal Litigation- old, as unfounded.
Final.”
Subject matter of the case: The appeal filed by the appellant-claimant against the Civil Judgment no. 2400/15.10.2019, by which the Bucharest Court of Appeal dismissed the action as unfounded.
Notes: on the merits, the case concerned the action for annulment and suspension of the ASF Decision no. 1439/12.10.2017, which ordered the sanctioning of SSIF BRK Financial Group S.A. with a fine in the amount of 45,000 lei (representing 1.7594% of the turnover for 2016).
The court’s solution can be consulted at:
By Judgment no. 1509/23.09.2022, the Bucharest Court of Appeal rendered the following decision in favour of ASF, against the claimant Societatea Transilvania Broker de Asigurare S.A.:
Ruling made in brief:
„Dismisses the application as unfounded.
With appeal within 15 days of service, to be lodged with the Bucharest Court of Appeal, 8th Division for Administrative and Fiscal Litigation.”
Subject matter of the case: annulment of ASF Decision no. 344/28.03.2022, on the sanctioning of Transilvania Broker de Asigurare S.A. with a written warning.
The court’s solution can be consulted at:
https://portal.just.ro/2/SitePages/Dosar.aspx?id_dosar=200000000407106&id_inst=2
By Judgment no. 1563 of 29.09.2022, the Bucharest Court of Appeal ruled in favour of ASF against the claimant Marchiș Liliana.
Ruling made in brief:
Dismisses the application as unfounded.
With appeal within 5 days of service. (...)”
Subject matter of the case: request for a stay of execution of the ASF Decision no. 6/06.01.2022 made by Ms. Marchiș Liliana, whereby she was fined 369,700 lei, as majority shareholder of IT Transilvania Invest S.A. Cluj-Napoca, shareholder of the issuer Societatea de Construcții Napoca S.A. Cluj-Napoca.
The court’s solution can be consulted at:
https://portal.just.ro/2/SitePages/Dosar.aspx?id_dosar=200000000411545&id_inst=2
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