Transfer of criminal liability in corporate takeovers: the Spanish Constitutional Court’s judgment of 11 December 2023

On December 2023, the Spanish Constitutional Court issued a judgment that reopened the issue of the transfer of legal entities’ criminal liability following a corporate acquisition. The judgment was related to a fine imposed by the Spanish Council of Ministers on Banco Santander regarding an alleged breach by Banco Popular of money laundering provisions before it was acquired by Banco Santander.

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