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Informative Note
The BPP Judgment
19/12/2014On 12 December 2014, the General Court ruled on the action for annulment filed by Banco Privado Português, SA (hereinafter, "BPP") and Massa Insolvente do Banco Privado Português, SA concerning a Commission decision dated 20 July 20101. Said decision, upheld by the General Court, declared the State aid received by BPP incompatible with the internal market as from 5 December 2008 and thus ordered the Portuguese Republic to secure its recovery.
