E.C. Rules Company Must Return €98M

Law360, New York (February 22, 2007, 12:00 AM EST) -- The European Commission ruled on Thursday that an Italian mining company must pay back the €98.36 million it received in subsidies from the Sardinian regional government.

The program to support Nuova Mineraria Silius (NMS), fully owned by the Sardinian Regional Authority, clashes with the E.C.’s state aide policy, the Commission said.

The sum the company will have to pay is the total it has received since 1997.

The company has been heading towards bankruptcy since 1998, when the region attempted privatize it, according to the E.C....
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