DONBASS LOSES POLISH STATE AID APPEAL AT THE EUROPEAN COURT OF JUSTICE
April 1st, 2011
BY KEITH NUTHALL
THE UKRAINE-owned Polish steel-maker ISD Polska has lost a final appeal at the European Court of Justice (ECJ) against a European Commission order that it repay Polish zloty 19.6 million (USD6.9 million) in state aid from its government.
Brussels decided in 2005 that these subsidies, paid from 1997 to 2002 to Huta Stali Cz?stochowa, (later part of ISD Polska, itself owned by Ukraine's Industrial Union of Donbass Corp), were paid in breach of European Union (EU) state aid rules. These are designed to ensure businesses compete equally across the ...
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