CELEX: 62009CA0212
Language: en
Date: 2011-11-10 00:00:00
Title: Case C-212/09: Judgment of the Court (First Chamber) of 10 November 2011 — European Commission v Portuguese Republic (Failure of a Member State to fulfil obligations — Articles 43 EC and 56 EC — Free movement of capital — Golden shares held by the Portuguese State in GALP Energia SGPS SA — Participation in the management of a privatised company)

28.1.2012   
            
            
               EN
            
            
               Official Journal of the European Union
            
            
               C 25/3
            
         
      Judgment of the Court (First Chamber) of 10 November 2011 — European Commission v Portuguese Republic
      (Case C-212/09) (1)
      
      (Failure of a Member State to fulfil obligations - Articles 43 EC and 56 EC - Free movement of capital - Golden shares held by the Portuguese State in GALP Energia SGPS SA - Participation in the management of a privatised company)
      (2012/C 25/03)
      Language of the case: Portuguese
      
         Parties
      
      
         Applicant: European Commission (represented by: G. Braun, M. Teles Romão and P. Guerra e Andrade, Agents)
      
         Defendant: Portuguese Republic (represented by: L. Inez Fernandes, Agent, and by C. Botelho Moniz, M. Rosado da Fonseca and P. Gouveia e Melo, advogados)
      
         Re:
      
      Failure of a Member State to fulfil obligations — Infringement of Articles 43 EC and 56 EC — Special rights of the State and other public bodies in the company GALP Energia, SGPS SA (‘golden shares’)
      
         Operative part of the judgment
      
      The Court (First Chamber):
      
                  1.
               
               
                  Declares that, by maintaining in favour of the Portuguese State and other public bodies special rights in GALP Energia SGPS SA, such as those provided for in the present case by Law No 11/90 of 5 April 1990 concerning the Framework Law on Privatisations (Lei no 11/90, Lei Quadro das Privatizações), by Decree-Law No 261-A/99 of 7 July 1999 approving the first phase of the privatisation of the share capital of GALP — Petróleos e Gás de Portugal SGPS SA (Decreto-Lei no 261-A/99 aprova a 1.a fase do processo de privatização do capital social da GALP — Petróleos e Gás de Portugal, SGPS, SA), and by the articles of association of that company, granted in connection with the Portuguese State’s golden shares in the share capital of that company, the Portuguese Republic has failed to fulfil its obligations under Article 56 EC;
               
            
                  2.
               
               
                  Orders the Portuguese Republic to pay the costs.
               
            
         (1)  OJ C 180, 1.8.2009.