BCS Bank JSC v Belgian State (Belgian Council of State A. 243.220/VI-23.168)

Procedural record

1. 11 September 2026Belgium

   11 September 2026Belgium

   Judgment of the Belgian Council of State no. 267.613 dated 11 September 2026

   Belgian Council of State

   Case no.

   A. 243.220/VI-23.168

   Citation

   ECLI:BE:RVSCE:2026:ARR.267.613

   Decision summary

   The Belgian Council of State annulled the Treasury Administrator-General's decision of 15 July 2024 refusing BCS Bank's application to release funds frozen at Euroclear, holding that the ministerial delegation relied on was too broad and insufficiently defined and that the decision was adopted by an incompetent authority. The judgment did not order release of the assets.

   Participants

   BCS BANK JSC

   Belgian State

   Belgian Council of State

   Authorities cited

   6

   • Council Regulation (EU) No 269/2014 of 17 March 2014
     statute
   • Council Implementing Regulation (EU) 2022/878 of 3 June 2022
     statute
   • Council Regulation (EU) 2022/1905 of 6 October 2022
     statute
   • Article 159 of the Constitution of Belgium (Constitution of Belgium, Article 159)
     statute
   • Belgian Law of 13 May 2003 on implementation of restrictive measures adopted by the Council of the European Union
     statute
   • Belgian Ministerial Decree of 13 December 2023 delegating competence (Belgian Ministerial Decree of 13 December 2023)
     statute