The EU Court of Justice upholds that the private investor test should be applied also when a measure is connected to a State aid measure taken in the context of the financial crisis (ING Groep)

State aid case C-224/12 ING: Private investor test by default?* On 3 April 2014 the CJEU confirmed the General Court’s judgment of 2 March 2012 in the State aid dispute between the European Commission and the Kingdom of the Netherlands, ING Groep NV and the Dutch Central Bank (De Nederlandsche Bank NV). All six grounds of appeal brought by the Commission in this case were dismissed by the Court. Most notable are the Court’s considerations on the applicability of the private investor test. The Court confirmed that the Commission cannot evade its obligation to assess the economic rationality of a given measure in the light of the private investor test solely on the basis that the measure is connected to a measure which itself already constitutes State aid. Centrally, the decision raises

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Paul C. Adriaanse, The EU Court of Justice upholds that the private investor test should be applied also when a measure is connected to a State aid measure taken in the context of the financial crisis (ING Groep), 3 April 2014, e-Competitions Bulletin April 2014, Art. N° 68582

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