WTO rules some EU Airbus subsidies illegal
Lawyer Blogs
The WTO on Wednesday dealt the European Union a painful blow in a transatlantic trade row over multibillion dollar subsidies for US and European aircraft, ruling some state support for Airbus illegal.
Rival US airplane manufacturer Boeing claimed a "sweeping legal victory" and said it would require Airbus to repay four billion dollars in illegal subsidies, a claim disputed by the European aerospace giant.
Bringing to a head one of the most bitter trade disputes between the two trading powers, the World Trade Organization disputes panel upheld parts of a US complaint in the marathon legal battle.
In a 1,200-page ruling made public for the first time, the global trade referee said EU states should halt some aid for the development and export of Airbus airliners.
It notably accepted three out of seven claims by Washington that key launch aid amounted to export subsidies, which are illegal under WTO rules.
Related listings
-
New trial ordered in NYC for ex-food service boss
Lawyer Blogs 07/02/2010A federal appeals court ordered a new trial Thursday for the former chief marketing officer of one of the nation's biggest food products distributors, saying errors by a judge make it necessary to dissolve the conviction and the seven-year prison ter...
-
Court lets Vatican-sex abuse lawsuit move forward
Lawyer Blogs 07/01/2010The Supreme Court won't stop a lawsuit that accuses the Vatican of transferring a priest from city to city despite repeated accusations of sexual abuse.The high court on Monday refused to hear an appeal from the Holy See, the legal name for the Vatic...
-
SEC paying $755K to settle with fired lawyer
Lawyer Blogs 06/30/2010The Securities and Exchange Commission is paying $755,000 to settle a lawsuit with a former staff lawyer who accused the agency of blocking his investigation of a prominent hedge fund.The SEC settlement of Gary Aguirre's wrongful termination claim re...
New York Commercial Litigation Law Firm - Woods Lonergan PLLC
Founded in 1993 by Managing Partner James F. Woods, Woods Lonergan PLLC has built a strong reputation as a resourceful and industrious firm that provides clients with clear, concise, and straightforward answers to their most challenging legal issues. Partner Lawrence R. Lonergan, who joined the firm in 2008, has been a friend and colleague to Mr. Woods for over 40 years and shares the same business philosophy. Woods Lonergan PLLC’s collective experience and expertise enables the firm to expeditiously and effectively analyze the increasing challenges clients face in an evolving business and legal world, in many instances, avoiding unnecessary time and expense to our clients. Our mission is simple: provide cutting-edge expertise and sound advice in select areas of the law for corporate and business clients. We thrive on providing each client with personalized attention, forceful representation, and a collaborative team effort that embraces collective knowledge.