The European Commission on Friday took Greece to court for failing to recover more than 250 million euros ($275 million) in what it considered to be illegal state aid to Hellenic Shipyards. The case dates back to 2008 and deals with one of Greece's biggest ship-building yards that is now owned by Abu Dhabi MAR, the Emirates-based shipbuilding group.
"More than seven years after its adoption, Greece still has not implemented the Commission decision of June 2008, ordering the recovery of over 250 million euros of unlawful state aid to Hellenic Shipyards," the commission, the EU's executive arm, said in a statement. It also asked the European Court of Justice, the EU's highest court, to impose on Greece a one-off penalty of about 6 million euros, plus a new daily penalty of 34,974 euros until the date Greece complies.
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