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    Commission opens investigation into restructuring aid to Italian textile producer Legler
    2007-10-31

    The Commission has opened a formal investigation under EC Treaty state aid rules into a series of aids amounting to €40.7 million that Italy intends to grant to Legler S.p.A, a denim textile producer. The Commission doubts at this stage that the restructuring plan of Legler S.p.A. would restore the beneficiary's commercial viability and is concerned that the aid would create undue distortions of competition in this highly competitive market. The opening of the formal investigation gives interested parties an opportunity to comment on the proposed measures.

    Filed under:
    European Union, Italy, Insolvency & Restructuring, Trade & Customs, Bird & Bird LLP, Beneficiary, Debt, Concurrence, State aid, Joint-stock company, European Commission, Treaty of Rome
    Location:
    European Union, Italy
    Firm:
    Bird & Bird LLP
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