Law Firm Planner - Legal News - EU top court holds up state's say in Volkswagen
Law Firm News
Today's Date: Bookmark This Website
EU top court holds up state's say in Volkswagen
Legal Focuses | 2013/10/23 11:21
The European Union's top court has upheld a law giving a German government authority a blocking minority in Volkswagen AG, Europe's largest carmaker.

The Court of Justice on Tuesday dismissed a lawsuit against the rule brought by the European Commission, the 28-nation bloc's executive arm that also acts as the antitrust watchdog.

The German state of Lower Saxony's 20 percent stake in the Wolfsburg-based automaker gives it the right to block corporate decisions — a lower threshold than the 25 percent blocking minority for all other German public companies. But the court ruled the law still meets the relevant European requirements.

Lower Saxony state governor Stephan Weil, in turn, expressed "great joy" about the ruling, calling it a good day for the state and the company's employees, according to a statement issued by his office.

Volkswagen declined to comment on the verdict since the company wasn't a party to the lawsuit by the Commission against Germany. The company owns 12 car brands including Audi, Seat and high-end sports car maker Porsche.

The court also struck down a fine sought by the Commission which would have cost German authorities several dozen millions of euros.

The Commission initiated proceedings against the so-called Volkswagen law in 2005. A 2007 Court of Justice ruling then invalidated parts of it, forcing Germany to amend the law to its present form. Still, the Commission maintained it inhibits the free movement of capital within the EU.


[PREV] [1] ..[1617][1618][1619][1620][1621][1622][1623][1624][1625].. [2805] [NEXT]
All
Law Firm News
Headline News
Law Center
Court Watch
Legal Interview
Topics
Lawyer News
Legal Focuses
Opinions
Marketing
Politics
Firm News
Former Georgia insurance com..
Alabama woman who faked kidn..
A Supreme Court ruling in a ..
Court upholds mandatory pris..
Trump wants N.Y. hush money ..
Supreme Court restores Trump..
Supreme Court casts doubt on..
Donald Trump appeals $454 mi..
Dani Alves found guilty of r..
Ken Paxton petitions to stop..
Attorney Jenna Ellis pleads ..
Trump arrives in federal cou..
Why Trump's bid for presiden..
UN court rejects most of Ukr..
Hong Kong court orders China..


   Lawyer & Law Firm List
Indianapolis Personal Injury Law Firm
Indiana, IN Personal Injury Attorneys
www.williamspiatt.com
St. Louis Missouri Criminal Defense Lawyer
St. Charles DUI Attorney
www.lynchlawonline.com
Chicago Truck Drivers Lawyer
Chicago Workers' Comp Attorneys
www.krol-law.com
New York Adoption Lawyers
New York Foster Care Lawyers
Adoption Pre-Certification
www.lawrsm.com
 
 
© Law Firm Planner. All rights reserved. - Legal News and Articles on Recent US Legal Developments.

The content contained on the web site has been prepared by Law Firm Planner Media as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. Legal Blog postings and hosted comments are available for general educational purposes only and should not be used to assess a specific legal situation. Affordable Law Firm Website Design by Law Promo