Luxembourg, 06/03/2003 (Agence Europe) - The Court of First Instance has cancelled the decision by the European Commission noting that the transfer of Wohnungsbauförderungsanstalt (Wfa) to the state company Westdeutsche Landesbank (WestLB) was illegal State aid, amounting to DM 1 579 700 000 over the period 1992-1998. The Commission's argument justifying the reference rate used to demonstrate the inappropriate nature of the amount paid by WestLB was insufficient, it explains.
Wfa is a...