Thursday, March 22, 2012
Posted by D. Daniel Sokol
OEXRA has a new article on Passing judgment on crisis state aid: control: the ING MEIP case.
ABSTRACT: In a landmark judgment, the General Court ruled in March 2012 that the European Commission had overstated the state aid received by Dutch bank, ING Groep NV, during the financial crisis by up to €2 billion, and, as such, ING may be relieved from certain remedies imposed by the Commission. What was the Court’s reasoning, and does it have a bearing on the support given to other banks in recent years?