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Top EU Court Says Transport Co. Must Repay €642M In Aid

Law360 (March 7, 2018, 10:29 PM EST) -- The Court of Justice of the European Union on Wednesday ordered a formerly state-owned package delivery company to return €642 million in state aid money to the French government, finding the company failed to honor EU conditions attached to approval of the bailout payments.

Sernam Mobilités, a former subsidiary of French state railway company SNCF, had been ordered in 2004 by the European Commission to leave the road transportation market or sell off its assets in order to keep €503 million (roughly $624 million at the...
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