EU Court Scraps €1.2B State Aid Penalty Against EDF

Law360, New York (December 15, 2009, 4:26 PM EST) -- A European court has annulled a 2003 decision by the European Commission ordering French state-owned electric utility Electricite de France to repay €1.2 billion ($1.7 billion) in allegedly unlawful state aid, though the commission may still re-examine the case.

The General Court of the European Union ruled Tuesday that the commission failed to consider whether the French government was acting as a prudent private investor when it pumped capital into EDF.

The dispute concerns the French government's decision in 1997 to classify unused funds provided for...
To view the full article, register now.