Judgment of the Court of First Instance (Eighth Chamber) of 12 November
   2008 - Cantieri Navali Termoli v Commission

   (Case T-70/07)

   State aid - Shipbuilding - Operating aid linked to contracts for ships
   - Application for extension of ship delivery limit under Article 3 of
   Regulation (EC) No 1540/98 - Causal link between the exceptional event
   and the delay

   1.                     Actions for annulment - Grounds - Lack of or
   inadequate statement of reasons - Distinguished from manifest error of
   assessment (Art. 253 EC) (see para. 37)

   2.                     State aid - Not allowed - Exceptions -
   Shipbuilding aid (Council Regulation No 1540/98, Art. 3(2)) (see paras
   53-58)

   Re:

   ACTION for annulment of Commission Decision 2006/948/EC of 4 July 2006
   on State aid which Italy plans to implement for Cantieri Navali Termoli
   SpA (OJ 2006 L 383, p. 53).

   Operative part:

   The Court:

   1.

   Dismisses the action;

   2.

   Orders Cantieri Navali Termoli SpA to pay the costs.