In a judgment dated Wednesday 7 March (case C-127/16 P), the Court of Justice of the EU has upheld a judgment of the General Court of the EU of December 2015, whereby more than €642 million in unlawful state aid must be paid back by the company Financière Sernam and its subsidiaries.
Sernam is a former SNCF subsidiary, specialised in transport and logistics. It was privatised in 2005 and, in January 2012, some of its assets were taken over by Geodis, which is affiliated to SNCF...