ING wins final court ruling against EC over terms of its 10 bln euros bailout-Reuters

Wednesday, 2 Apr 2014 08:00pm EDT 

ING Groep NV:ING wins final court ruling against European Commission over repayment terms of its 10 billion euros ($13.77 billion) bailout, as Europe's highest court upheld earlier verdict - Reuters.Commission argued that cheaper repayment terms ING received after bailout at height of credit crunch in 2008 constituted further 2 billion euros of state aid.European Court of Justice, Europe's highest court, confirmed earlier verdict, ruling that this additional aid was part of bailout and did not qualify as competition distorting state aid.Europe's second-highest court, Luxembourg-based General Court, said in 2012 that European Commission, as state aid regulator, failed to show that extra aid granted to ING gave it advantage over rivals. 

Company Quote

-0.34 -2.51%
19 Dec 2014