The EU General Court confirms the EU Commission’s decision ruling that the Province of Burgenland had granted State aid which was not compatible with the common market (Land Burgenland / Republic of Austria)

I. Introduction On 28 February 2012 the General Court confirmed the European Commission’s (“Commission”) decision of 30 April 2008 [1] and ruled that the Province of Burgenland had granted State aid to Grazer Wechselseitige Versicherung AG (“GRAWE”) which was not compatible with the common market [2]. This court decision is not final, but it is an “interim result” of an endless privatization process of the regional HYPO Bank Burgenland AG (“Bank Burgenland”), which was no badge of honour so far for the Province of Burgenland. This article shall give a view on the proceedings on State aid granted by the Austrian Authorities to GRAWE in connection with the privatization of Bank Burgenland from the perspective of the best but rejected bidder. After two unsuccessful attempts to privatize Bank

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Alexander Thomas, Gregor Trummer, Isolde Rabl, The EU General Court confirms the EU Commission’s decision ruling that the Province of Burgenland had granted State aid which was not compatible with the common market (Land Burgenland / Republic of Austria), 28 February 2012, e-Competitions February 2012, Art. N° 48241

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