Archive : British Deal Upheld

British Deal Upheld
Reuters
Published: Wednesday, February 5, 1992

The European Court of Justice today quashed a European Commission order that British Aerospace P.L.C. repay to Britain $:44.4 million, about $80 million, that it received as enhancements to the deal in which it bought the Rover auto operations in 1988. The court ruled that the commission, the executive body of the European Commission, had not followed correct procedures in an inquiry it conducted before it declared the enhancements to be illegal state aid in June 1990. The commission ordered the repayment last June after inquiries prompted by a political sc

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