ING can now breathe a sigh of relief. The bank - which has long railed against the severity of conditions imposed by the European Commission to correct competition distortion caused by aid received by ING during the crisis - has won a battle with the EU executive over the repayment of this aid. The EU Court of Justice (ECJ) found, on 3 April, that the Commission could not consider amendments to repayment conditions for state aid as additional aid, without…
Other banks have also followed ING’s example:
- ABN Amro brought an appeal before the General Court in 2011 (Case T-319/11.) The verdict is due on 8 April
- WestLB AG also brought an appeal in 2009 (Case T-457/09). Judges are currently deliberating