*This article is an automatic translation of the original article, provided here for your convenience. Read the original article. – General Court, 3 March 2010, Freistaat Sachsen v. Commission, joined cases T-102/07 and T-120/07 Between March 2001 and December 2003 companies of the Biria Group, a bicycle manufacturer and distributor, received three financial contributions from the public authorities: a silent partnership contribution of just over EUR 2 million to Bike Systems, an 80 % guarantee for an operating loan of EUR 5,6 million in favour of Sachsen Zweirad and a further 80 % guarantee for an operating loan of EUR 24 875 000 in favour of Biria GmbH in return for the return of the abovementioned guarantee granted to Sachsen Zweirad. The second and third measures were granted
CASE COMMENTS: STATE AID - FIRMS IN DIFFICULTY - SCOPE OF THE OBLIGATION TO STATE REASON
Annulation - Recovery of State aid: The General Court annuls a Commission decision concerning the recovery of State aid in the forms of an equity injection and of guarantees to firms in difficulty, considering that the Commission has not sufficiently reasoned its quantification of the aid involved (Freistaat Sachsen)
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.