The EU General Court issues its judgment in a case concerning transfer of capital to a German public law credit institution clarifying major policy issues concerning State aid rules (WestLB)

"The judgement of the Court of First Instance concerning the transfer of capital to Westdeutsche Landesbank Girozentrale (WestLB)"* On 6 March 2003 the Court of First Instance (CFI) issued the long-awaited judgement in the WestLB case concerning the transfer of the Wohnungsbauförderungsanstalt (Wfa) to WestLB and the involvement of State aid in this transaction. Though the Court annulled the Commission’s decision on grounds of insufficient reasoning concerning the calculation of the aid amount of roughly € 808 million, the judgement confirmed and thereby clarified major policy issues as applied by the Commission in the field of State aid control. WestLB is the largest German Landesbank (public law credit institution) and owned by the Land Nordrhein-Westfalen (roughly 43%) as well as

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Elke Graeper, Stefan Moser, The EU General Court issues its judgment in a case concerning transfer of capital to a German public law credit institution clarifying major policy issues concerning State aid rules (WestLB), 6 March 2003, e-Competitions March 2003, Art. N° 36920

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