The EU Commission decides that the measure implemented in the form of acquisition of bonds doesn’t constitute state aid within the meaning of Article 107(1) TFEU (Nauta)

Article published on Lexxion State Aid Blog

The Private Investor Principle Applied to Loans [Commission Decision 2013/528]* Introduction The State aid issue in this case is relatively straightforward. Nauta, a Polish shipyard, received a two-year loan from IDA, the state-owned Polish Investment Agency. Because Nauta ran into some financial trouble, the loan was extended for another two years. In Decision 2013/528, the Commission had to examine two questions: First, did the initial loan market conform? Second, if yes, did the extension market conform [1]? The Commission analysis is of textbook quality. Question 1: The initial loan The initial loan of PLN 120 million was granted at a rate of 5.28% and was secured with property that belonged to Nauta. The Commission first reviewed the business plan

Access to this article is restricted to subscribers

Already Subscribed? Sign-in

Access to this article is restricted to subscribers.

Read one article for free

Sign-up to read this article for free and discover our services.

 

PDF Version

Author

Quotation

Phedon Nicolaides, The EU Commission decides that the measure implemented in the form of acquisition of bonds doesn’t constitute state aid within the meaning of Article 107(1) TFEU (Nauta), 20 March 2013, e-Competitions Bulletin March 2013, Art. N° 60945

Visites 57

All issues

  • Latest News issue 
  • All News issues
  • Latest Special issue 
  • All Special issues