18 FEBRUARY 2014www.iii.co.uk/
PPC says Greek court rejects Aluminium SA's appeal
Edited by : AL CIRCLE
1 min read
Public Power Corporation (PPC) said an Athens Single-Membered Court of First Instance has rejected an appeal filed by Aluminium SA regarding unlawful state aid totalling 17.4m euros, plus interest, that it received.
The court's ruling was based on a relevant decision of the European Commission (EC). It also rejected an application for the suspension of a payment order issued to Aluminium SA by PPC.
Despite the earlier decision by the EC, Aluminium SA has not paid the relevant amount, which compelled PPC to pursue legal action.
In view of the non-recovery of the money from Aluminium SA, the EC has begun proceedings against the Hellenic Republic in the European Court.
The court's ruling was based on a relevant decision of the European Commission (EC). It also rejected an application for the suspension of a payment order issued to Aluminium SA by PPC.
Despite the earlier decision by the EC, Aluminium SA has not paid the relevant amount, which compelled PPC to pursue legal action.
In view of the non-recovery of the money from Aluminium SA, the EC has begun proceedings against the Hellenic Republic in the European Court.
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