Judgment of the Court of Justice of the EU in the joint cases P Land Burgenland v Commission (C-214/12), P Grazer Wechselseitige Versicherung v Commission (C-215/12), P Grazer Wechselseitige Versicherung v Commission (C-223/12) on State aid
On 24 October 2013, the Court of Justice of the EU ruled in joint cases C-214/12 P Land Burgenland v Commission; C-215/12 P Grazer Wechselseitige Versicherung v Commission; and C-223/12 P Grazer Wechselseitige Versicherung v Commission, on State aid.
In its ruling, the Court confirmed the condemnation of Austria because of State aid in the sale of Bank Burgenland to Grazer (GraWe). The European Commission noted in 2008 that illegal State aid was granted at the occasion of privatization of the bank in 2006.
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