The Greek Administrative Court of Appeal rules that interest due in the case of recovery of illegal aid constitutes a distinct category of interest which may not be confused or in any way affected by other types of interest or other provisions of national tax law (Heracles)

Factual Background: In 1983, Greece adopted Law 1386/1983 for the organization for the financial reconstitution of undertakings. Law 1386/1983 created an organization operating under the name of Business Reconstruction Organisation, whose purpose was to contribute, inter alia, to the social and economic development of the country through the financial rejuvenation of undertakings. By Ministerial Decision of 07.08.1986, the appellant was made subject to Law 1386/1983. In particular, the company's share capital was increased by approximately GRD 28 billion (approximately € 84 million) through the capitalization of its debt and the issue of around 44 million shares, held by its creditors and the Business Reconstruction Organisation. The European Commission initiated a formal

Access to this article is restricted to subscribers

Already Subscribed? Sign-in

Access to this article is restricted to subscribers.

Read one article for free

Sign-up to read this article for free and discover our services.

 

PDF Version

Author

Quotation

Antigoni Lykotrafiti, The Greek Administrative Court of Appeal rules that interest due in the case of recovery of illegal aid constitutes a distinct category of interest which may not be confused or in any way affected by other types of interest or other provisions of national tax law (Heracles), 31 May 2007, e-Competitions May 2007, Art. N° 26956

Visites 1633

All issues

  • Latest News issue 
  • All News issues
  • Latest Special issue 
  • All Special issues