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Sieging in Ndjamena, on May 12, 2022, the Court of Justice of the Community of Central African States (CEMAC) rendered its verdict in the case between the Atlantic Bank of Cameroon and the Central African Banking Commission (Cobac). On the merits, Cobac "violated the adversarial principle.
The decision of the Court of Justice annuls the decisions of cobac bearing: reprimand of the bank, compulsory resignation of the chairman of the board of directors and all the members of the board of the bank, reprimand against the ceo of the bank and his deputy. Ruling therefore on Community law, at first and last instance, the Court of Justice states that, on the merits, Cobac 'infringed the adversarial principle, and consequently respect for the rights of the defence, holds and holds that the infringement of the rules on money laundering and terrorist financing, blamed on the bank and managers is not established. Consequently, it annuls all their provisions for defects in form and procedure the decisions of cobac". The Court also annulled cobac's decision on the compulsory resignation of the Chairman of the Board of Directors and all the members of that Board on the ground of defects, procedural and lack of legal basis.
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