Attached is the judgement. It is authority as to (among other matters): (i) broad interpretation of “control criteria”; (ii) “control” criteria is a presumption which the affected party shall be entitled to refute on a case-by-case basis; (iii) the person which assets are frozen on the basis of “control criteria” cannot bring an action for annulment in front of the EU Courts; (iv) national courts shall ensure that effective remedies are available to such a person to challenge the existence of control in national courts; and (v) the availability of any of civil proceedings (against a person which froze assets which will be typically a bank) or administrative proceedings (challenging the order of a NCA demanding the freeze) will satisfy (iv).
ABOUT US
SANCTIONS 360°