EU To Probe Viability Of Dexia Restructuring Plan

Law360, New York (March 13, 2009, 12:00 AM EDT) -- Less than four months after granting temporary approval to part of the rescue aid, the European Commission has launched a probe into the long-term viability of a restructuring plan for financial group Dexia, which includes €6.4 billion in aid from Belgium, France and Luxembourg along with a guarantee of another €150 billion.

Under the European Union's state aid rules, the regulator will conduct an "in-depth" investigation to consider whether the plan will ensure "viability" for the financial services company in the long run, the watchdog announced...
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