The Court of Justice of the European Union today condemned France for not having recovered 220 million euros in illegal state aid paid to SNCM ferry company, waiting for a buyer to keep hope survival. The decision of the European Court is just one episode in the saga twists around the National Society Corsica Mediterranean, in November 2014 placed in receivership and liquidation risk.
State aid for totaling € 440 million were declared illegal by the European Union, that these subsidies distort competition with shipping companies such as Corsica Ferries. Part of this aid, € 220 million was paid from 2007 to 2017 to ensure links between Corsica and the mainland in the peak period, when travelers abound.
The Commission accepted to waive reimbursement provided there is “economic disruption” that is to say disappearance of SNCM which reborn in a form that would not distort competition with other companies. But she wanted a decision before the summer so that the distortion ceases for a good period for traffic, with a peak for tourism.
However, the commercial court of Marseille ignored those warnings on June 10 ordering a new tender for the acquisition of the company, rejecting the three farms already filed applications and two letters of intent that were given him. A hearing will be held on September 25 and in the meantime, the French government hopes to obtain a guarantee from the buyer that Brussels should not take over the liabilities
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