Part Of €530M Olympic Airways State Aid Order Tossed

Law360, New York (September 13, 2010, 12:30 PM EDT) -- A European court has partially overturned the European Commission's decision requiring Greece to recover about €530 million ($682 million) in state aid used to help restructure Olympic Airways, ruling that the antitrust watchdog didn't adequately prove some of the assistance was anti-competitive.

The General Court of the European Union ruled Monday that Olympic Airlines, a new airline the Greek government formed to take over Olympic Airways' profitable assets in 2003, is not responsible for repaying any illegal aid the country gave Olympic Airways after the new...
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