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Europe Daily Bulletin No. 8503

12 July 2003
Contents Publication in full By article 21 / 50
GENERAL NEWS / (eu) eu/corporate law
Spain and Luxembourg face Court for not having implemented directive on late payments

Brussels, 11/07/2003 (Agence Europe) - The failure of Spain and Luxembourg to notify the Commission of measures transposing the EU Late Payments Directive into their national laws has led the Commission to bring a case before the Court of Justice. This Directive, which should have come into force in all EU Member States by 8 August 2002, creates an automatic right to substantial interest on many debts still outstanding 31 days after goods or services are supplied in a commercial transaction....

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ECONOMIC INTERPENETRATION