The European Commission has reopened an in-depth investigation into financial aid granted to the Polish machinery producer Huta Stalowa Wola. In 2006, the Commission cleared restructuring aid amounting to EUR 17.3 million given in the form of a loan. However, it has transpired that the form of the restructuring aid was modified prior to the Commission’s decision without the Commission being informed. It seems that the company received the funds in exchange for equity instead of as a loan. This improves the liquidity of the company and enables it to borrow additional funds from other sources. The Commission is now investigating whether this alteration to the restructuring plan conforms with State aid rules.