ING and the Dutch government have
launched an appeal against restructuring measures imposed on the
bank by the European Commission.
ING said the Commission incorrectly calculated
the amount of government aid it received during the financial
crisis by around €2 billion ($2.8 billion).
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In a statement, the bank said this “could
hamper discussions” with the government on its repayment plan.
Both ING and the Dutch government will contest
the restructuring plans announced at the end of 2009 in an appeal
lodged with the general court of the European Union.
The bank is also disputing the
“disproportionality of the price leadership restrictions”, banning
ING from being a top-three price leader if it has over a 5 percent
market share.
ING said it was not appealing other parts of
last December’s restructuring plan, such as the decision to
separate its banking and insurance operations. The terms of the
repayment of €5 billion of state capital are also not in
dispute.
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