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EU regulator had no power to order Romania to recover Micula payout, EU court hears

By Matthew Newman ( March 21, 2018, 10:51 GMT | Insight) -- A payment made by Romania to two Swedish investors, in compensation for tax breaks cancelled in the run-up to the country joining the EU, was wrongly classified as illegal state aid by the European Commission, they told an EU court yesterday. The case raises questions about the effectiveness of arbitration awards when they conflict with EU governments’ obligations under EU law.A payment made by Romania to two Swedish investors, in compensation for tax breaks cancelled in the run-up to the country joining the EU, was wrongly classified as illegal state aid by the European Commission, they told an EU court yesterday....

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