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Italian banking tax aid case: European Court of Justice judgment on Italian banking tax aid scheme

Mayer Brown LLP
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European Union
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June 26 2012

On 21 June 2012, the ECJ handed down its judgment on an appeal against a General Court ruling which dismissed an action by banks BNP Paribas and BNL against the European Commission’s decision that an Italian aid scheme in favour of restructured banks was incompatible with the EU

Banking sector speech: speech by Joaquín Almunia on the state aid perspective of restructuring the banking sector in the EU

Mayer Brown LLP
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European Union
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June 26 2012

On 21 June 2012, Almunia, Vice President of the European Commission responsible for Competition Policy, gave a speech on the State aid perspective of restructuring the banking sector in the EU

Refinancing guarantee: European Commission temporarily approves 10bn increase of guarantee for Dexia SA and Dexia Credit Local

Mayer Brown LLP
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European Union
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June 12 2012

On 6 June 2012, the Commission announced its temporary approval to increase the ceiling of a refinancing guarantee granted by Belgium, France and Luxembourg to Dexia and its subsidiary, DCL

Financial sector: speech by Joaquín Almunia on the role of finance in overcoming the financial crisis

Mayer Brown LLP
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European Union
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May 29 2012

On 23 May 2012, the European Commission published a speech by Almunia, Vice President of the Commission responsible for Competition Policy, on the role of finance in overcoming the financial and sovereign-debt crisis

European Commission approves decision on restructuring aid to ING

Mayer Brown LLP
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European Union
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May 22 2012

On 11 May 2012, the Commission announced that it has approved a 2009 restructuring plan for ING, following a General Court judgment which had partially annulled the Commission’s previous clearance decision

European Commission temporarily approves rescue aid to facilitate merger of Danish banks

Mayer Brown LLP
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Denmark, European Union
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May 1 2012

On 25 April 2012, the Commission announced that it has temporarily approved the Danish rescue aid granted to facilitate the merger of two Danish banks, Vestjysk Bank and Aarhus Lokalbank

Commission approves restructuring of Banco Portugues de Negócios

Mayer Brown LLP
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European Union, Portugal
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April 3 2012

On 27 March 2012, the European Commission announced that it has authorised the restructuring of a small Portugal-based financial institution, Banco Portugues de Negócios, under EU State aid rules

Commission approves amendment to Commerzbank restructuring plan

Mayer Brown LLP
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European Union, Germany
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April 3 2012

On 30 March 2012, the European Commission announced its approval to Commerzbank’s modified restructuring plan

Almunía delivers speech on state aid and the banking sector

Mayer Brown LLP
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European Union
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January 31 2012

On 24 January 2012, Joaquin Almunía, Vice President of the Commission and responsible for competition policy, delivered a speech on the banking sector and state aid

Commission approves Irish state aid scheme for distressed credit unions

Mayer Brown LLP
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European Union, Ireland
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December 23 2011

On 20 December 2011, the Commission approved an Irish state aid scheme for the resolution of distressed credit unions