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E.C.: Slovak Government Gave €11M In Illegal Aid

Law360 (June 8, 2006, 12:00 AM EDT) -- An €11 million tax write-off granted by the Slovak government constitutes illegal state aid and must be recovered with interest, the European Commission announced Thursday.

Eastern Slovakia-based Frucona Kosice received the write-off in July 2004. The company, which produces and distributes alcoholic beverages, had accumulated €16.9 million in tax debt, 65% of which was forgiven by Slovakia’s tax office.

“We are applying the rules on state aid for restructuring of ailing companies strictly, in line with the State Aid Action Plan.,” said E.U. Competition Commissioner Neelie...
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