Judgment of the Court of First Instance (Third Chamber) of 8 July 2008.#Sviluppo Italia Basilicata SpA v Commission of the European Communities.#European Regional Development Fund (FEDER) - Reduction in financial assistance - Application for annulment - Venture capital fund - Deadline for the completion of investment projects - Procedure - Principles of protection of legitimate expectations and legal certainty - Principle of proportionality - Statement of reasons - Action for damages.#Case T-176/06.

Subject of the case

Re:

ANNULMENT of Commission Decision C(2006) 1706 of 20 April 2006 reducing the financial assistance from the European Regional Development Fund in favour of an overall allocation for the purpose of implementing measures to support small and medium-sized enterprises operating in the Basilicata Region of Italy, granted under the Community support framework for Community structural assistance in the regions of Italy covered by Objective 1, and application for damages for the harm caused by that decision.

Operative part

Operative part

The Court:

1. Dismisses the action;

2. Orders Italia Basilicata SpA to pay the costs.