Gleiss Lutz has successfully advised Commerzbank in a state aid procedure at the European Commission. Yesterday the Commission cleared the recapitalisation of Commerzbank. After Germany already granted capital to the bank in December 2008 on the basis of the German financial crisis scheme, Germany intends to grant another EUR 10 billion of capital. Germany notified this second tranche to the Commission for reasons of legal certainty so that the Commission could verify the compatibility of the measure with state aid rules.
The case has been handled by Dr. Ulrich Soltész (Partner), Christian von Köckritz and Philipp Melcher (all Brussels). For many years Gleiss Lutz has been an important player in the field of EU State aid.
The Commerzbank-team (in house) consisted of Guenter Hugger, Armin Barthel und Dennis Heidschmidt.
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