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WestLB shareholder challenges EU review of EUR 5 billion risk shield

By Lewis Crofts ( December 6, 2013, 11:59 GMT | Insight) -- A German savings-bank association told EU judges this morning that the European Commission's decision to cut WestLB down to half its size in return for clearing 5 billion euros of support during the crisis was pre-cooked and "unlawful." The regulator argued the court case was obsolete because the bank had since been wound down following a second EU decision.A German savings-bank association told EU judges this morning that the European Commission's decision to cut WestLB down to half its size in return for clearing 5 billion euros of support during the crisis was pre-cooked and "unlawful."...

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