POLAND STEEL AID INQUIRY
May 1st, 2004
BY ALAN OSBORNThe European Commission has launched an in-depth investigation into the restructuring of the Polish steel company Huta Czestochowa saying it doubted that this was being achieved without state aid which is banned under Poland's treaty of accession into the EU. The Brussels inquiry is to determine whether and what kind of state aids will have been granted to the company up to 2006.The Commission also doubts whether the restructuring of the company meets the private creditor test. The restructuring plan "raises the impression that the winding up of the ...
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