The European Court of Justice will deliver judgement on the future of the so-called ‘Volkswagen law’ on 23 October.
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The court announced today (21 September) that the judgement would be delivered at 9.30am that day. The European Commission brought an action against Germany in 2005, claiming that the Volkswagen law is an infringement of the free movement of capital.
The law limits the voting rights of shareholders to 20%. Currently, though Porsche owns over 30% of Volkswagen shares, its voting rights are still limited to 20%.
Advocate-general Ruiz-Jarabo gave his opinion on the case on 13 February 2007. He agreed with the commission’s position, although his opinion is not binding.
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