The Paris Court of Appeal refuses to hold the State liable for breach of EU State aid provisions (Stardust)

The history of this "Stardust" saga, an intricate case mixing national and EC decisions and judgements, can be summarized as follows. Background In 1997, the public company CDR SA, a defeasance vehicle set up for managing the liabilities of the former public bank Crédit Lyonnais, sold Stardust, a company specialized in the marketing and the management of pleasure boats to the company FG Marine. Previously to this transfer, the CDR has substantially recapitalized Stardust. Sunsail, a competitor of Stardust, challenged the operation before the Commercial Tribunal of Paris and, in the same time, filed a complaint before the European Commission alleging

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  • Schmitt Avocats (Paris)

Quotation

Elias Berkani, The Paris Court of Appeal refuses to hold the State liable for breach of EU State aid provisions (Stardust), 16 January 2004, e-Competitions January 2004, Art. N° 13763

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