EU Court Rules in Favor of Kvaerner

Thursday, February 28, 2002
The Court of First Instance, has today ruled in the case concerning alleged breach of capacity restrictions at Kvaerner's German shipyard, Kvaerner Warnow Werft. The group has been informed that the Court has ruled in favor of Kvaerner. The Court has set aside the EU commission's decision that Kvaerner should repay DEM 117 million. Kvaerner paid and accounted for this amount in 2000. The Court's decision can be appealed within two months. Although Kvaerner has not yet seen the details of the Court's decision, Kvaerner's preliminary understanding is that the amount will be repaid. In addition to this case, the EU commission has not yet finalized its assessment of whether Kvaerner should partly repay subsidies received in connection with loss-making shipbuilding contracts when Kvaerner took over the yard 10 years ago. Kvaerner is of the opinion that such repayment cannot be justified.
Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Korean Ferry Captain's Detention Could Extend As Death Toll Mounts

South Korean prosecutors investigating a ferry disaster said on Sunday they would seek to extend the detention of the ship's captain and two other crew by 10

Reports: Brazilian Tycoon Batista Investigated For Financial Crimes

Brazils federal police have opened an investigation into former billionaire Eike Batista for financial crimes, including insider trading, manipulation of markets and money laundering,

Shell Commited To Russia Expansion Despite Sanctions

Royal Dutch Shell is committed to expansion in Russia, Chief Executive Ben van Beurden told Russian President Vladimir Putin at a meeting on Friday amid sanctions

Education/Training

Nigeria Maritime Academy Gets Bridge Simulator

A NAUTIS Full Mission Bridge Simulator was purchased and delivered to the Maritime Academy of Nigeria in Oron. The new simulator will be used to provide qualitative

Technology, Economy the Focus of New Marine Academy in China

The Ningbo Nottingham International Academy for Marine Economy and Technology (IAMET) has been officially launched at a ceremony at The University of Nottingham Ningbo China (UNNC).

Gondán Lays Keel for MS-SC Training Vessel

Gondán Shipyard celebrated the keel laying ceremony of the sail training vessel that the yard is building for the British Marine Society & Sea Cadets (MS-SC). In the ceremony,

 
 
Navigation Offshore Oil Pipelines Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0712 sec (14 req/sec)