pswp and Sernetz Schäfer Secure Repayment of Billions of Euros from the 2011-2014 Bank Levy
Together with Sernetz Schäfer, we achieved an important interim victory before the Administrative Court of Frankfurt regarding the repayment of the national bank levies from 2011 to 2014.
After a lengthy hearing on 16 September 2025, the court obliged BaFin in three cases to repay these legacy funds. Since the establishment of the European resolution fund at the end of 2023, there has been no further purpose for the legacy funds. The court therefore ordered repayment of nearly €1.0 billion.
We represent several banks that paid contributions into the fund between 2011 and 2014. Until now, BaFin had rejected repayment applications. The Frankfurt Administrative Court has now followed our reasoning and made it clear: the contributions must be refunded.
The fund currently holds around €2.3 billion, making this ruling a landmark decision for hundreds of institutions.
We are proud that our renewed cooperation with Sernetz Schäfer has once again led to success.
Lead at pswp: Dr. Benedikt Wolfers, M.A., and Dr. Frederic Geber
Lead at Sernetz Schäfer: Dr. Niklas Bartmann
Link to the Frankfurt Administrative Court press release: https://lnkd.in/dU5T_b96
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