The Paris Court of Appeal holds a bank liable in damages for its lack of diligence during EU Commission proceedings (CDR / FG Marine-Stardust)

Derenne, Jacques; Müller-Rappard, Alix

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16 Jan 2004

The Paris Court of Appeal holds a bank liable in damages for its lack of diligence during EU Commission proceedings (CDR / FG Marine-Stardust)

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Reference

Paris Court of Appeal, CDR / FG Marine-Stardust, 16 January 2004 (French)

Brief description of the facts and legal issues In June 1997, CDR sold its majority holding in Stardust Marine ("Stardust") to FG Marine. In September 1999, the Commission considered that the State aid granted to Stardust was incompatible with the Common Market and ordered reimbursement of the aid (OJ (2000) L206/6). Under provisions of the purchase contract, FG Marine required CDR to repurchase the Stardust shares. Stardust went bankrupt and was purchased by another company. FG Marine

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Authors

Jacques Derenne
University of Liège

Belgium 390 contributions 668390 visits
Alix Müller-Rappard
European Commission

Belgium 28 contributions 44754 visits

Quotation

Jacques Derenne, Alix Müller-Rappard, The Paris Court of Appeal holds a bank liable in damages for its lack of diligence during EU Commission proceedings (CDR / FG Marine-Stardust), 16 January 2004, e-Competitions January 2004, Art. N° 29884

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