European Commission Seeks Legal Action In Subsidy Row

Wednesday, July 26, 2000
The European Commission taking Spain to the European Court of Justice in Luxembourg over its failure to recover around 111 million euros in what it calls illegal state aid to its shipyards. The EU executive said in a statement it had asked Spain in early December to recover the aid, paid in the form of 18,451 billion pesetas in special tax credits in 1998 to the state-owned merchant shipyards grouped in holding company Sociedad Estatal de Participaciones Industriales (SEPI). "Despite reminders, Spain has not complied with the decision, which it was obliged to execute within two months. Faced with such a situation, the Commission is obliged to act," it said in a statement. The Commission said the aid was out of line with a package that it had cleared to allow Spain's state-owned shipyards to be restructured in August 1997. It said that Spain itself had challenged the Commission decision on the aid in the Court of Justice, but that did not mean it could suspend action on the order to recover the aid.
Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Deal to End Lockout at Canada Uranium Mine

Canadian uranium producer Cameco Corp and the United Steelworkers union, which represents 535 workers at the world's largest uranium mine and a nearby mill,

Oil Refiner Bound to Goldman, Deutsche Fee Agreements - NY Judge

CVR Energy Inc is bound by agreements to pay Goldman Sachs Group Inc and Deutsche Bank AG more than $36 million in fees and expenses stemming from billionaire

Yang Ming Extends Charter Terms for Five 14,000-TEU Ships

Seaspan Corporation announced today that Yang Ming Marine Transport Corp., has confirmed the term of the fixed-rate time charters for the five 14000 TEU SAVER

Education/Training

ESAB Boasts Over a Century of Technological Innovation

September 2014 marks the 110th anniversary of ESAB Welding & Cutting Products. A world leader in welding and cutting technology, with the broadest, most complete

SMM 2014 Witnesses Record Turnout

SMM was another full success. With more than 2,100 exhibitors from all around the world, including 150 first-timers, with 50,000 industry visitors and roughly 90,

SUNY Maritime to Host Towing Industry Forum

The State University of New York Maritime College's Department of Professional Education and Training will host its 15th annual Towing Industry Forum Wednesday, October 15, 2014.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Pod Propulsion Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1208 sec (8 req/sec)