Bucharest, 8 July 2024 - In June 2024, courts ruled in favour of ASF in the following cases:
By Judgement no. 953/4.06.2024, the Bucharest Court of Appeal rendered the following decision in favour of ASF, against claimant Septimiu Stoica.
Ruling made in brief:
”Dismisses the ex officio referral regarding the application of Art. 413 para. 1, item 1 of the Civil Procedure Code, namely the suspension of the case until the final resolution of no. 3623/2/2021 and no. 3616/2/2021 of the Bucharest Court of Appeal. Dismisses the application as unfounded.
With appeal within 15 days of service. ”
Subject-matter: application for a writ of summons, by which the claimant sought, inter alia, annulment of ASF Decision no. 1225/21.11.2023, which rejected the application of S.S.I.F. BRM for the authorisation of Mr. Septimiu Stoica as a member of the Board of Directors of the company, as unlawful and unreasonable.
The ruling of the court can be consulted at:
https://portal.just.ro/2/SitePages/Dosar.aspx?id_dosar=200000000430260&id_inst=2
By Judgement no. 1073/13.06.2024, the Bucharest Court of Appeal rendered the following decision in favour of ASF against claimant Radu Momanu, as a member of the Supervisory Board of Transilvania Investments Alliance S.A., at the time of the offense.
Ruling made in brief:
”Dismisses the application as unfounded.
With appeal within 15 days of service.”
Subject-matter: the application, by which the claimant requested, inter alia, the annulment of ASF Decision no. 1055/09.10.2023, by which claimant Radu Momanu, in his capacity as member of the Supervisory Board of Transilvania Investments Alliance S.A., at the time of the commission of the offense, was sanctioned with a fine of RON 5,000.
The ruling of the court can be consulted at:
https://portal.just.ro/2/SitePages/Dosar.aspx?id_dosar=200000000428748&id_inst=2
By Judgement no. 1089/14.06.2024, the Bucharest Court of Appeal rendered the following decision in favour of ASF, against claimant S.S.I.F. B.R.K. Financial Group S.A.
Ruling made in brief:
“Dismisses the application as unfounded.
With appeal within 15 days of service.”
Subject-matter: application for a writ of summons, by which the applicant sought, inter alia, the annulment in its entirety of ASF Decision no. 184/21.02.2024, with the consequence that the applicant is exonerated from the performance of all the remedial measures ordered.
Note: by ASF Decision no. 184/21.02.2024, S.S.I.F. BRK was required to implement the remedial measures contained in the action plan annexed to the decision, within 90 calendar days from the communication of the individual administrative act. As is apparent from the Annex to the contested Decision, 18 measures/obligations were imposed on the claimant.
The ruling of the court can be consulted at:
https://portal.just.ro/2/SitePages/Dosar.aspx?id_dosar=200000000433568&id_inst=2
By Judgement no. 1051/17.06.2024, the Bucharest Court of Appeal rendered the following decision in favour of ASF, against claimant Societatea Studioul Cinematografic Animafilm S.A.
Ruling made in brief:
“Dismisses the application for judgement as unfounded, as stated. Dismisses the application for accessory intervention as unfounded. Dismisses as unfounded the applicant's additional claim seeking an order that the defendant pay the costs.
With appeal within 15 days of service.(....)”
Subject-matter: application for a writ of summons, by which the claimant sought, inter alia:
The ruling of the court can be consulted at:
https://portal.just.ro/2/SitePages/Dosar.aspx?id_dosar=200000000426062&id_inst=2
By Judgement no. 1119/17.06.2024, the Bucharest Court of Appeal rendered the following decision in favour of ASF against claimant Meştereagă Cristian, as the person in charge of customer relations in the company S.S.I.F. B.R.K. Financial Group S.A.
Ruling made in brief:
“Dismisses the application as unfounded.
With appeal within 15 days of service, the appeal to be filed at the Bucharest Court of Appeal.”
Subject-matter: the action brought by the claimant, by which he applied to the court, inter alia, for the annulment in its entirety of ASF Decision no. 376/18.04.2023, by which the claimant, as the person in charge of customer relations of S.S.I.F. BRK Financial Group S.A., was fined RON 7,670.
The ruling of the court can be consulted at:
https://portal.just.ro/2/SitePages/Dosar.aspx?id_dosar=200000000422368&id_inst=2
By Judgement no. 1112/17.06.2024, the Bucharest Court of Appeal rendered the following decision in favour of ASF, against S.S.I.F. Muntenia Global Invest S.A.
Ruling made in brief:
„Admits the plea of inadmissibility raised by the defendant. Dismisses the head of claim for annulment of ASF Decision no. 1222/2023, as inadmissible. Dismisses the remainder of the action, as amended, as unfounded.
With appeal within 15 days of service (...).”
Subject-matter: the application by which S.S.I.F. Muntenia Global Invest S.A. requested the court, inter alia, to annul ASF Decision no. 1065/12.10.2023, which ordered the sanctioning of the claimant with a fine of RON 10,000.
The ruling of the court can be consulted at:
https://portal.just.ro/2/SitePages/Dosar.aspx?id_dosar=200000000428684&id_inst=2
By Judgement no. 3365/18.06.2024, the High Court of Cassation and Justice rendered a partially favourable decision in favour of ASF, against appellant Alexandru Paul Ştiopei, as a member of the House Investment Committee of SSIF BRK Financial Group S.A., at the sanctioning date:
Ruling made in brief:
„Annuls the appeal filed by defendant Financial Supervisory Authority against Civil Judgement no. 1775 of 12 October 2022, delivered by the Bucharest Court of Appeal - 9th Division for Administrative and Fiscal Litigation, as unfounded. Finds the appeal filed by claimant Alexandru Paul Știopei against Judgment no. 1775 of 12 October 2022, delivered by the Bucharest Court of Appeal - 9th Division for Administrative and Fiscal Litigation, as unfounded. Final.”
Specifically, in its decision, the High Court of Cassation and Justice validated the judgement of the first instance and, implicitly, upheld ASF Decision no. 252/7.03.2022 as lawful and sound, reducing only the amount of the fine imposed from RON 4,900 to RON 1,000.
Subject-matter: the appeal brought by the appellant claimant against Judgement no. 1775/16.02.2022, by which the Bucharest Court of Appeal ordered the following brief solution: “Admits the application in part. Orders the reduction of the fine imposed by ASF Decision no. 252/07.03.2022 from RON 4,900 to RON 1,000. Dismisses the remainder of the application as unfounded”.
Notes: on the merits, the case file related to the action brought by the appellant-claimant, by which he requested the court, in essence, inter alia, the annulment in its entirety of ASF Decision no. 252/07.03.2022, by which the appellant-claimant, as a member of the House Investment Committee within SSIF BRK Financial Group S.A., in the controlled period (29.10.2019 - 30.08.2021), was sanctioned with a fine in the amount of RON 4,900, with the consequence of the removal in its entirety of the sanction imposed.
The ruling of the court can be consulted at:
By the judgement of the hearing of 20.06.2024, the Bucharest Court of Appeal rendered a favourable decision in favour of ASF against claimant Dragoș Călin, in his capacity as employee / Head of the Legal Department of Transilvania Investments Alliance S.A.
Ruling made in brief:
“Dismisses the application for suspension of operation of the contested decision as unfounded.
With appeal within 5 days of service.”
Subject-matter: the action brought by the applicant, by which he sought, mainly, inter alia:
Notes: this solution concerns only the stay of proceedings in the case. For the judgement of the action for annulment, the court granted a deadline of 24.10.2024.
The ruling of the court can be consulted at:
https://portal.just.ro/2/SitePages/Dosar.aspx?id_dosar=200000000435392&id_inst=2
By Judgement no. 3530/20.06.2024, the High Court of Cassation and Justice rendered a partially favourable decision in favour of ASF, against appellant-claimant Nicolae Stoian, in his capacity as a member of SIF Oltenia S.A. (currently Infinity Capital Investments S.A.), at the date of sanctioning.
Ruling made in brief:
„Dismisses the appeal filed by the appellant-claimant Nicolae Stoian against Civil Judgement no. 929 of 14 June 2021, delivered by the Bucharest Court of Appeal - 8th Division for Administrative and Fiscal Litigation, as unfounded.
Final.”
Subject-matter: the appeal brought by the appellant-claimant against Civil Judgement no. 929/14.06.2021, by which the Bucharest Court of Appeal dismissed the application for summons to judgement as unfounded.
Notes: on the merits, the case concerned the action brought by the appellant-claimant, by which he applied to the court, mainly, inter alia, for the annulment of ASF Decision no. 870/15.07.2020 and ASF Decision no. 1194/06.10.2020.
By Decision no. 870/15.07.2020, ASF ordered the sanctioning of the appellant-claimant, as a member of SIF Oltenia, with a fine in the amount of RON 60,000.
By ASF Decision no. 1194/6.10.2020, the preliminary complaint lodged by the appellant-claimant was rejected.
The ruling of the court can be consulted at:
By Judgement no. 1116/21.06.2024, the Bucharest Court of Appeal rendered the following decision in favour of ASF against claimant Stănilă Florian, as director of Nemo Expres Logistic S.A.
Ruling made in brief:
“Dismisses the application as unfounded.
With appeal within 15 days of service.(...)”
Subject-matter: the action brought by the claimant, by which he requested the court, mainly, inter alia, the annulment of ASF Decision no. 498/18.05.2023, by which ASF ordered the sanctioning of claimant Stănilă Florian, as director of Nemo Expres Logistic S.A., with a fine amounting to RON 13,500.
The ruling of the court can be consulted at:
https://portal.just.ro/2/SitePages/Dosar.aspx?id_dosar=200000000423230&id_inst=2
By Judgement no. 1117/21.06.2024, the Bucharest Court of Appeal rendered the following decision in favour of ASF against claimant Ştefan Claudiu Iulian, as member of the Board of Directors of Mettexin S.A.
Ruling made in brief:
“Dismisses the application as unfounded.
With appeal within 15 days of service.(..).”
Subject-matter: the application, by which the plaintiff requested, inter alia, “the replacement with a warning of the sanction imposed by ASF Decision no. 716/18.07.2023”, by which ASF decided to sanction the claimant, in his capacity as Chairman of the Board of Directors of Mettexin S.A., with a fine amounting to RON 13,600 lei.
The ruling of the court can be consulted at:
https://portal.just.ro/2/SitePages/Dosar.aspx?id_dosar=200000000425506&id_inst=2
By Judgement no. 1149/26.06.2024, the Bucharest Court of Appeal rendered the following decision in favour of ASF, against claimants Euroins România Asigurare Reasigurare S.A. and Euroins Insurance Group AD.
Ruling made in brief:
“Dismisses the defendant’s plea of lateness as unfounded. Dismisses the defendant’s plea of res judicata as unfounded. Dismisses the defendant’s plea of inadmissibility as unfounded. Dismisses the application for suspension as unfounded.
With appeal within 5 days of service (...)”.
Subject-matter: the application, by which the claimants requested the court to suspend the ASF Decision no. 262/17.03.2023 (which ordered the withdrawal of the operating authorisation of Euroins Romania Asigurare-Reasigurare S.A., the establishment of the state of insolvency and the filing of the petition for the opening of bankruptcy proceedings against it), ASF Decision no. 264/17.03.2023 (which ordered the appointment of the Policyholder Guarantee Fund as interim director of S.A.R. Euroins S.A.), as a subsequent act, as well as any subsequent acts and operations.
The ruling of the court can be consulted at:
https://portal.just.ro/2/SitePages/Dosar.aspx?id_dosar=200000000433524&id_inst=2
By Judgement no. 1182/28.06.2024, the court rendered the following decision in favour of ASF, against claimant Prime Transaction S.A.
Ruling made in brief:
”Dismisses the application as unfounded.
With appeal within 15 days of service.”
Subject-matter: the action brought by S.S.I.F. Prime Transaction S.A., requesting the court to annul ASF Decision no. 1075/13.10.2023, by which the claimant was fined RON 59,400.
The ruling of the court can be consulted at:
https://portal.just.ro/2/SitePages/Dosar.aspx?id_dosar=200000000428390&id_inst=2
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