The EU Court of Justice establishes that the privatisation of the Austrian bank has not been carried out in the light of the private investor in a market economy principle (Land Burgenland)

* Article published on Lexxion State Aid Blog (click here), republished in e-Competitions with the courtesy of the author. The original title of this article appears below the e-Competitions title. Authors are welcome to write an alternative article on this case/text, provided they have no relationships with a party or related third party. Article will need e-Competitions Board approval before publication.

Private Vendor Principle: How to Organise a State-Aid-Free Sale of Public Assets* Introduction The private investor principle (PIP) or market economy investor principle is well established in the case law. A closely related concept is the private vendor principle (PVP). The PIP applies when a public authority assumes risk by investing in an undertaking, for example through the purchase of shares, injection of capital, granting of a loan or provision of a guarantee. The PVP applies when a public authority reduces its risk exposure by, for example, selling capital assets or land. In either case such a public authority must disregard any public policy objective. In both cases the public authority must have a single purpose: obtaining a market rate of return or profit. The scope of the

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 Court of Justice establishes that the privatisation of the Austrian bank has not been carried out in the light of the private investor in a market economy principle (Land Burgenland), 24 October 2013, e-Competitions October 2013, Art. N° 60111

Visites 271

All issues

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