EU: Landeskreditbank fails in its challenge of the ECB's direct supervisory oversight

Earlier this month the General Court of the European Union gave its judgment in Landeskreditbank Baden-Württemberg ‒ Förderbank v ECB (Case T-122/15). The General Court - sitting in extended composition - dismissed Landeskreditbank's action in which it had challenged the decision of the European Central Bank to classify it as a significant entity (and, therefore, one that fell under the direct supervision of the ECB through the single supervisory mechanism). A summary is available here (pdf).