CASE COMMENTS: STATE AIDS – METHOD OF CALCULATING THE INTEREST APPLICABLE – COMPOUND INTEREST

Periodic penalty: The General Court of the European Union annuls a decision of the European Commission which determined the amount of periodic penalty payments reflecting the amounts of aid to be recovered which included compound interest conversely to the applicable national law (Italy)

*This article is an automatic translation of the original article, provided here for your convenience. Read the original article. This judgment of the Court of First Instance returns to the question of the applicability of compound interest in State aid cases. It was not a question of examining the lawfulness of a decision ordering the recovery of aid in respect of which the question of the nature of the interest arose, but rather of a decision by the Commission to wind up the amount of the periodic penalty payment to be imposed on a Member State in execution of a 'failure to fulfil obligations' judgment ordering that Member State to pay a periodic penalty payment after failing to comply with a previous judgment finding that a negative Commission decision had not been complied with.

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  • Sheppard, Mullin, Richter & Hampton (Brussels)

Quotation

Jacques Derenne, Periodic penalty: The General Court of the European Union annuls a decision of the European Commission which determined the amount of periodic penalty payments reflecting the amounts of aid to be recovered which included compound interest conversely to the applicable national law (Italy) , 9 June 2016, Concurrences Nº 3-2016, Art. N° 80863, pp. 137-139

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