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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Guzmán Re-elected Harbor Commission President, Long Beach Port

Harbor Commission President Lori Ann Guzmán was re-elected Monday evening to serve a second one-year term leading the board that oversees the Port of Long Beach, the nation’s second-busiest seaport.

Bahri Q2 Net Profit Soars

National Shipping Company of Saudi Arabia (Bahri), the exclusive oil-shipper for Saudi Aramco, reported a 47.2 percent increase in second-quarter net profit on Tuesday.

U.S. Backs S. China Sea Bilateral Talks

U.S. Secretary of State Kerry says backs bilateral talks; Philippines says dispute does not involve United States. U.S. Secretary of State John Kerry said on

Education/Training

KVH's Zika Virus Safety Video for Mariners

KVH Industries, Inc., (Nasdaq: KVHI), announced today that it is offering Videotel’s new safety and training video about the Zika virus free to all mariners worldwide.

Wärtsilä REvolution system takes sealing technology to New Level

The new Wärtsilä REvolution system is a digital management system that controls, monitors, records and analyses the performance of seals autonomously in real time,

Mariners Attend SUNY Maritime for Gap-closing Courses

More professional mariners than ever are coming to SUNY Maritime College for training and courses to maintain their credentials and endorsements, the college reports.

 
 
Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics 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: 0.0663 sec (15 req/sec)